Russia's oil refining falls to lowest in over 20 years
This digest was compiled by AI from multiple sources — links to the originals are below.
Russia's oil refining output dropped to its lowest level in over two decades in June, according to industry data. The decline reflects ongoing maintenance shutdowns and reduced throughput at major refineries. The slump comes even as global demand for refined products remains steady.
The Decline
Russia's oil refining throughput fell to 5.2 million barrels per day in June, the lowest since at least 2000, according to data from the Russian Energy Ministry. The drop represents a 12% decline year-on-year. Major refineries, including those operated by Rosneft and Lukoil, have undergone extended maintenance.
Market Impact
The reduced output has tightened domestic fuel supplies, with diesel and gasoline prices rising 3% in June, according to the Federal Antimonopoly Service. Russia's crude oil exports, however, have remained stable as producers redirect volumes abroad. The government has considered export restrictions to stabilize the domestic market.
Ukrainian Drone Strikes on Russian Oil Facilities
Ukraine's military reported striking oil facilities inside Russia, including a major refinery, as well as a military airfield and an electronics factory. The attacks were carried out using drones. Russia has not commented on the reported strikes.
Ukrainian drone strike on Tuapse refinery
Russia's largest Black Sea oil refinery at Tuapse was damaged in a Ukrainian drone attack, causing a fire. The incident adds to operational disruptions at Russian refineries, which have already reduced throughput to a 24-year low in June.
What's Next
The Russian government is expected to announce measures to support domestic fuel supply in the coming weeks. It remains unclear whether the refining slump will persist into the third quarter or if seasonal maintenance will ease.
3 sources
Russia's oil refining falls to lowest in over 20 years
