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Russian diesel export plummets by quarter following drone strikes

Russian diesel export plummets by quarter following drone strikes Photo: Russia forced to export crude oil instead of diesel (Getty Images)

The export of diesel from Russia continues to decline for several weeks after drone attacks on the country's oil refineries, according to Bloomberg.

Data from the analytical company Kpler shows that supplies averaged 0.74 million barrels per day for the 10 days ending on April 13. This is approximately 25% lower compared to the average for this time of year during the period from 2019 to 2023.

Traders are closely monitoring what is happening with Russian fuel flows. As oil processing rates in the country have recently been near an 11-month low, there is a possibility that it may have to redirect all the crude oil that refineries cannot process to the export market.

Although crude oil flows have increased simultaneously, there are practical limitations to the growth of these supplies, Bloomberg notes.

The latest drone attack on a Russian oil refinery occurred on April 2, but it takes time for any disruptions at the plants to affect export flows.

US Defense Secretary Lloyd Austin warned on April 9 that recent attacks by Ukraine on Russian oil refineries could affect global energy markets. He advised Kyiv to target other objectives.

Following his statement, the Office of the President of Ukraine stated that Ukraine would continue to destroy Russian oil refineries. Advisor to the head of the President's Office, Mykhailo Podolyak, noted that all statements by American officials against Ukrainian strikes on Russian refineries are internal discussions about US interests. But they are not ultimatums to our country.