Ukraine attack on Russia's Novorossiysk cuts world oil supply by 2% – Reuters
Ukraine's strike on Russia's Novorossiysk port early on Friday, November 14, halted 2% of global oil supplies and pushed world prices higher, Reuters reports.
According to the agency’s sources, the Novorossiysk port, a key hub for Russia’s oil trade, temporarily suspended crude exports. This amounts to 2.2 million barrels per day, or about 2% of global supply.
The strike was one of the largest in recent months on Russia's oil export infrastructure. It continued Ukraine’s series of attacks on Russian refineries aimed at weakening Moscow’s ability to fund the war.
Reuters added that global oil prices jumped more than 2% amid supply concerns after the strike.
Strike on Novorossiysk
Ukraine’s General Staff confirmed that Ukrainian Neptune missiles and strike drones hit the Novorossiysk naval base in Russia’s Krasnodar region overnight on November 14.
The governor of the Krasnodar region confirmed the drone attack, saying Russian forces repelled strikes all night.
The attack damaged port infrastructure and the Sheskharis oil terminal, a launcher from an S-400 air-defense system, and a missile storage facility. A large explosion caused a major fire.
The terminal handles 35–40 large tankers per month, amounting to 3.5–4.5 million tons of crude oil, or up to 20% of Russia’s seaborne exports.
Russian media reported that the Novorossiysk port urgently halted oil exports after the drone attack. The city introduced a state of emergency, though authorities have offered no official confirmation.
