Ukrainian strikes drive Russian oil refining to lowest level since 2002

According to a Bloomberg report on August 3, Ukrainian drone strikes have caused Russia's oil refinery throughput to plummet to 3.6 million barrels per day in July, marking the lowest level since May 2002. The agency identified at least 30 Ukrainian attacks on Russian oil refineries, tankers, and maritime and pipeline infrastructure during the month, which was the second-highest monthly tally since Russia's invasion of Ukraine.

Although eight other attacks on tankers were excluded due to the lack of official responsibility, July could potentially become a record month for such strikes if Ukraine can confirm its involvement. Ukrainian forces primarily targeted refineries during the first half of July, including Russia's largest refinery in Omsk, situated over 2,500 kilometers away from the border.

These strikes forced Russian producers to boost crude exports, as refinery throughput declined to its lowest level in 24 years. Towards the end of the month, tankers became the primary targets, allowing some refineries to recover. Ukraine resumed attacks on refineries in late July, with drones reportedly striking the Lukoil-Permnefteorgsintez refinery in Ufa, resulting in a fire.

Additionally, drones targeted the Ryazan refinery, causing it to cease processing crude. According to the Financial Times, Ukraine has disabled approximately half of Russia's oil-refining capacity. Experts are also discussing the potential consequences of further destroying Russian refineries to cripple the Russian economy.