Pace of Russian oil refining nearing 11-month low

The rate of Russian refining is approaching an 11-month low as floods disrupt refinery operations and repairs to refineries damaged by drone attacks stall.

Source: Bloomberg 

Details: A source familiar with industry data said Russia processed 5.22 million barrels of oil per day between 11 and 17 April. This is around 0.2% lower than the prior seven-day average.

Between 11 and 17 April, most of the key affected facilities ran at levels similar to the previous weekly average, but still lower than before they were attacked.

The data shows that throughout April, processing at Russian refineries averaged roughly 5.23 million barrels per day, which is practically the lowest level since May last year.

Background: 

• The Russian oil company Bashneft has installed anti-drone nets to protect key facilities at its refineries from possible attacks by Ukraine.
• According to Kpler, in the ten days before 13 April, Russian diesel exports averaged 0.74 million barrels per day, which is 25% less than the average daily level in 2019-2023.

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