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Drones disable 10-15% of Russia's oil refining capacity - Bloomberg

Drones disable 10-15% of Russia's oil refining capacity - Bloomberg Photo: Drone strikes deprived Russia of 10-15% of oil refining (Getty Images)
Author: Liliana Oleniak

As a result of Ukrainian drone strikes, the capacity of Russian refineries was disabled in the amount of 600 to 900 thousand barrels, which is 10% to 15% of daily oil refining, according to Bloomberg.

According to the estimates of Gunvor CEO Torbjorn Tornqvist, about 600,000 barrels were disabled.

Drone strikes hit several factories in Russia, some deep inside its borders, sending diesel futures up for a fourth straight session.

"It is significant because obviously this is gonna hit the distillate exports straight away," Tornqvist says.

Gunvor was a major trader of Russian oil before the invasion of Ukraine but ceased trading shortly after the war began.

Meanwhile, according to JPMorgan Chase estimates, as a result of Ukrainian attacks, Russian oil refining capacity lost about 900,000 barrels per day. It could take "several weeks or even months" to restore capacity, and the strikes would add about a $4 per barrel risk premium to global oil prices, analysts say.

Strikes at refinery

Oil prices rose after Ukrainian drone strikes on Russian refineries. Gas in Europe also rose in price due to geopolitical risk.

The Insider agency calculated that in 2024 there were 15 drone attacks on 13 oil refineries in nine regions of the Russian Federation. Of them, eight objects suffered significant damage.

For more information on whether strikes on the refinery can bleed Russia and help Ukraine at the front, read the RBC-Ukraine article.