Bloomberg updated the data on monthly Russian oil refining, it fell even...
Bloomberg updated the data on monthly Russian oil refining, and it fell even further compared with the estimates from early July, to 3.6 million bpd (the previous figure was 3.91 million bpd).
This is the lowest refining level since May 2002.
Ukrainian strikes on refineries forced Russia to export nearly record volumes of oil abroad, and also led to paradoxical situations in which Russia has to ship oil to India so it can refine it at its refineries and then buy gasoline from it.
Oil Leaves Home For Processing
Russian oil refining fell to its lowest level since May 2002.
An energy power now ships crude out and buys gasoline back.