Russian oil exports fell to a post-pandemic low due to UAV attacks on Russian refineries

Russian exports of petroleum products in April 2024 fell to their lowest level since the COVID pandemic, according to tanker tracking data, with the figure 360,000 barrels per day lower in April than in March and almost 700,000 barrels per day lower than in January. This is reported by UNN with reference to S&P Global Commodities.

Details

Marine export shipments of diesel fuel, fuel oil, naphtha and other petroleum products from Russia, according to S&P, increased slightly in the second half of April to 1.94 million barrels per day. At the same time, the April average is 360,000 barrels per day lower than in March 2024, almost 700,000 barrels, and also below the January level.

S&P Global reminds that in January 2024, Ukraine began launching long-range drone strikes on Russian oil refineries. Also, the Orsk refinery with a capacity of 116,000 barrels per day was put out of commission for two weeks during the month due to flooding.

After a three-week break, on April 27, Ukraine carried out one of the largest drone strikes to date. According to the Russian Ministry of Defense, 66 drones were allegedly shot down over the Krasnodar region of Russia. At the same time, the Ilyinsky and Slavyansky refineries were damaged.

The last time Russian oil product exports fell below 2 million barrels per day, according to S&P Global, was during the peak of the COVID-19 quarantine in mid-2020.

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