The decline represents a 230,000 b/d drop from May, fueled primarily by a 32% collapse in gasoil exports to 490,000 b/d. Jet fuel shipments also halved, falling to 30,000 b/d. With refinery crude runs now dipping below 3.8 million b/d—a year-over-year decline of 1.6 million b/d—the impact of the conflict has moved deep into Russian territory. Recent strikes reached the 450,000 b/d Omsk refinery, located 2,700 kilometers from the Ukrainian frontline.
In section Market Quotes
Russian Distillate Exports Hit Record Low Amid Drone Campaign
Persistent Ukrainian drone strikes against Russian refineries have crippled domestic output, forcing total refined product exports down to a record-low 1.9 million barrels per day in June. The International Energy Agency reports this collapse in supply is tightening margins across the Atlantic Basin as Russia faces mounting fuel shortages.
In response to internal supply crises, Moscow has implemented a series of export bans, including a total halt on diesel shipments for the remainder of July. The IEA projects that these disruptions will force Russian crude production to slide further to 8.9 million b/d this year and 8.8 million b/d by 2027. Global markets remain vulnerable as well; with OECD gasoline stocks at their lowest levels since 2023, the combination of summer demand, regional heatwaves, and forced Russian imports from the U.S. West Coast keeps volatility high.
Comments (0)
No comments yet. Be the first!