Bloomberg: Ukraine’s drones have pushed Russian oil refining to a 20-year low

Ukraine struck Russian oil refineries at least 21 times in August, according to public statements from both sides. That was more than in any other month since Russia’s full-scale invasion of Ukraine began, Bloomberg said in an article on the second wave of Russia’s fuel crisis.

Four of Russia’s 10 largest refineries came under attack that month. Bloomberg did not name them but said they were built to supply the country’s most densely populated and industrially developed regions.

Russia’s oil refining volume has fallen to its lowest level in more than 20 years, according to EA Analytics, which estimates that the country refined an average of about 3.8 million barrels a day in August. By comparison, Russia typically refines 5.3 million to 5.5 million barrels a day in the summer, when demand rises due to vacation travel and the start of the agricultural season.

Amid the sharp drop in refining volume, gasoline production and supply to the domestic market dropped by almost 20% in the first three weeks of August, compared with the same period in 2025, according to a source who spoke with Bloomberg. Diesel production fell more than 23% in August, the source said.

Before the Ukrainian strikes, Russia was a major diesel exporter, supplying about 10% of the world’s diesel. That diesel now stays within the country.

Analysts expect Russia’s oil refining volume to rise slightly in September to almost 4.2 million barrels a day, though the figure could continue to fall if Ukrainian drone attacks continue at the same pace.

A lull in Ukrainian strikes on Russian refineries in the second half of July had allowed Russia to begin recovering from the first wave of the fuel crisis. Ukrainian drones resumed their attacks in August, and lines have returned to Russian gas stations, including in Moscow and the Moscow region.