Ukraine's Drone Attacks Cripple Russian Fuel Exports
Ukraine's drone attacks on Russian refineries have caused a significant plunge in Russia's seaborne fuel exports, leading to domestic fuel shortages.
According to Reuters estimates based on data from industry sources, seaborne shipments in September plunged by 17.1% compared to August.
- Russia exported 7.58 million metric tons of fuels last month.
- Shipments from Russian ports on the Baltic Sea, Black Sea, and Azov Sea slumped by between 15% and 23%.
- Exports of fuels from the Arctic ports inched up by 1%.
Futures remain backwardated and strong.
Tsvetana, a writer for Oilprice.com, notes that Ukraine's drone attacks have crippled both Russia's fuel production and exports.
Author's summary: Ukraine's drone attacks cripple Russian fuel exports.