Ukrainian Drone Attacks Disrupt Russian Oil Output
It seems the International Energy Agency (IEA) is reporting that Russia’s oil output is expected to see a decline of roughly 3% this year, bringing it down to approximately 8.9 million barrels per day. This projected dip is largely attributed to the ongoing Ukrainian drone attacks targeting Russia’s energy infrastructure. While a 3% decrease might sound modest on paper, and perhaps even less than some might expect given the intensity of the conflict, it’s a development with significant ripple effects, particularly concerning Russia’s ability to process and export its oil.
What’s particularly interesting here is the distinction between crude oil and refined products.… Continue reading
Matt Underwood