Exports of oil products from Russia fell to a two-year low

Exports of oil products from the Russian Federation fell to a two-year low due to renewed attacks by Ukrainian drones on Russian refineries.

In April, the export of oil products from the Russian Federation fell to a minimum after the COVID-19 pandemic, enkorr reports with reference to tanker movement tracking data.

According to S&P Global Commodities at Sea, in the second half of April, Russian seaborne export loads of diesel fuel, fuel oil, oil and other refined products increased slightly – to an average of 1.94 million barrels per day (b/d).

The April average recorded a drop of 360,000 b/d compared to March, and almost 700,000 b/d below the level in January, when Ukraine began drone strikes on Russian oil refining facilities.

Also, due to the flood, the Orsky Refinery with a capacity of 116,000 b/d was out of order for two weeks.

The last time Russian oil exports fell below 2 million b/d was during the peak of the COVID-19 lockdown in mid-2020.

On April 27, after a three-week break, Ukraine carried out one of the largest drone attacks. According to the Russian Ministry of Defense, then 66 drones were shot down over the Krasnodar Territory, as a result of which the Ilsky and Slovyansk refineries were damaged. On April 30, a fire broke out at the Ryazan Oil Refinery with a capacity of 342,000 b/d after a new drone hit the facility.

According to estimates by S&P Global Commodity Insights, about 600,000 b/d of Russia’s oil refining capacities are currently idle. The terrorist country is in a hurry to repair the damaged installations.

Read also: Drones attacked a refinery in the Kaluga region of the Russian Federation (video)