Russia Struggles to Place 4.21 Million Bpd of Crude as Ukrainian Drone Strikes Hit Refineries
Updated
Updated · Bloomberg · Jul 14
Russia Struggles to Place 4.21 Million Bpd of Crude as Ukrainian Drone Strikes Hit Refineries
3 articles · Updated · Bloomberg · Jul 14
Summary
4.21 million barrels a day of Russian seaborne crude moved on a four-week average through July 12, almost unchanged from the prior week despite pressure to export more.
Ukrainian drone strikes on Russian refineries are forcing more crude onto overseas markets by curbing domestic processing capacity.
The latest average was down just 10,000 barrels a day from the highest level since Russia's 2022 invasion of Ukraine.
Before that invasion, about 600,000 barrels a day had been sent by pipeline to refineries in Europe, underscoring how much more oil Russia now must place by sea.