Commodities
Russian Oil Refineries Suffer Record-Breaking Attacks
Russia's oil refineries took another hit in August, with gasoline production plummeting by nearly 20% year-over-year. Diesel fuel production fell by more than 23%, according to Bloomberg, citing a source familiar with the data.
Total crude oil refining volume in Russia dropped to its lowest level in over 20 years, averaging just under 3.8 million barrels per day in August. In previous summers, this figure stood at around 5.3-5.5 million barrels per day.
The decline in diesel production was offset by a summer ban on most exports, which left the domestic market with more fuel. However, gasoline supplies to the market still fell by nearly 20%.