There is a possibility that Russia will have to divert crude that its refineries cannot process to the export market.
Fuel exports from Russia drop by 25% due to drone attacks on oil refineries. Bloomberg reported this on Thursday, April 18.
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So, according to data from the analytical company Kpler, in the 10 days before April 13, Russian diesel exports averaged 0.74 million barrels per day, which is 25% lower than the average level for this period in 2019-2023.
“Traders continue to keep an eye on what’s happening with Russia’s fuel flows. With Russia’s oil refining rates recently falling to an 11-month low, there is a possibility that it will need to redirect crude that cannot be processed by refineries in the export market,” the agency wrote. .
It is noted that even if the flow of oil has simultaneously increased, there are practical limits to these supplies increasing further.
It also noted that the last drone attack on a Russian oil refinery took place on April 2, but it would take time for any disruption to the plants to affect export flows.
Earlier, media reported that Russia had quickly repaired some of the major refineries hit by drone strikes. Thus, the capacity of businesses idle due to attacks has dropped to around 10% from around 14% at the end of March.
We remind you that since the beginning of 2024, 13 Russian refineries have already been attacked. The drone strikes led to the biggest weekly increase in oil prices of the year.
The United States has called on Ukraine to stop attacks on Russian energy infrastructure, as drone strikes on refineries could lead to an increase in world oil prices.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.