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Russian Refinery Runs Hit 21-Year Low After Ukrainian Strikes

Bloomberg Markets •
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A wave of Ukrainian attacks has pushed Russian refining runs to the lowest in more than 21 years, deepening a domestic fuel crunch and further squeezing the global market. Crude-processing rates have averaged 3.91 million barrels a day so far this month, the lowest level since March 2005, according to figures compiled by EA Analytics. That's more than 1.4 million barrels a day below the year-ago average, the data show.

The strikes on Russian energy infrastructure have significantly reduced the country's ability to process crude oil into refined products. This decline comes at a time when global oil markets are already tight, potentially driving up prices for gasoline, diesel, and other petroleum products worldwide.

Industry analysts warn that the sustained reduction in refining capacity could have lasting effects on Russia's domestic fuel supply and export revenues. The attacks represent an escalation in the targeting of energy infrastructure, with implications for both regional security and global energy markets.