Russia’s Oil Refining May Set New Record Low in August

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Russia’s average oil refining volume in July stood at 4.2 million barrels per day, up from 4.1 million barrels per day in June. However, emergency repairs prompted by attacks by Ukrainian drones could lead to a further decline in refining volumes in August.

As Kommersant reports, citing a Kpler forecast, Russia’s oil refining volume could amount to 4 million barrels per day in August. A return to Russia’s usual level of 5.3-5.5 million barrels per day is not expected this year.

Analysts believe refining volumes could increase to 4.3 million barrels per day in September.

A source cited by the newspaper said the minimum refining level is 3.3-3.5 million barrels per day. At lower volumes, it will be extremely difficult to ensure fuel supplies to the domestic market.

It should be noted that fuel supplies from Belarus to Russia reached new records in July. According to media reports, rail deliveries of gasoline from Belarus to Russia increased by 13% in July compared with June, reaching about 212,000 tonnes. Diesel fuel deliveries doubled during the month, reaching 162,000 tonnes.

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