Ukrainian strikes on Russia\u2019s oil infrastructure have caused oil refining volumes to fall to their lowest level in nearly the entire period of Vladimir Putin\u2019s rule. Specifically, in July, Russian refineries processed about 3.6 million barrels per day, the lowest figure since May 2002. Bloomberg reported this, citing an estimate by EA Analytics.<\/p>\n
This is about one-third below the seasonal average. Between 2020 and 2025, Russian refineries processed an average of 5.3\u20135.6 million barrels per day during this period.<\/p>\n
In July, 18 Russian refineries came under attack, including the country\u2019s largest\u2014the Omsk refinery, located more than 2,500 km from the border with Ukraine. In total, at least 30 attacks on Russian oil industry facilities\u2014refineries, tankers, ports, and pipelines\u2014were recorded last month.<\/p>\n
In addition to refineries, drones attacked five large tankers, five port infrastructure facilities, and two pipelines. If we include eight additional attacks on tankers linked to the Caspian Pipeline Consortium (CPC) terminal, July could become a record month for the number of strikes on oil facilities associated with Russia.<\/p>\n
In the first half of July, Ukrainian forces focused primarily on strikes against oil refineries, while in the second half, they targeted tankers. Attacks on Russia\u2019s maritime supply routes have also caused disruptions in oil shipments from Black Sea ports.<\/p>\n
Analysts note that the situation going forward will depend on Ukraine\u2019s ability to strike at Russia\u2019s oil infrastructure. According to analysts, Russian air defenses may reduce the number of successful attacks, but will not stop them entirely.<\/p>\n
At the same time, Russia has the ability to partially reroute export flows from Black Sea ports to Baltic ports; however, Rystad Energy believes that the spare capacity of pipelines, storage facilities, and tankers may not be sufficient to compensate for all lost volumes.<\/p>\n
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