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OIL: Russia Crude Processing Falls After Moscow Refinery Attack

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Russia’s crude processing fell to an average of 5.33mb/d during Sept. 1-4, sources told Bloomberg.

  • The rate is the lowest weekly average since mid July and about 190kb/d below the average for most of August.
  • Crude processing rates at Gazprom Neft’s Moscow refinery fell by 150kb/d from the August average following a drone attack on Sept. 1.
  • Russia’s crude processing rate averaged 5.518mb/d from Aug. 1-28 and the highest since July 2023.
  • Four-week average seaborne crude export volumes slipped to 3.13mb/d in the week, down by 30k b/d compared to the previous period, Bloomberg said earlier.
  • Refinery runs and crude exports remain key indicators for Russia’s industry trends while the country has pledged to limit crude output as part of its OPEC+ voluntary cuts.
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Russia’s crude processing fell to an average of 5.33mb/d during Sept. 1-4, sources told Bloomberg.

  • The rate is the lowest weekly average since mid July and about 190kb/d below the average for most of August.
  • Crude processing rates at Gazprom Neft’s Moscow refinery fell by 150kb/d from the August average following a drone attack on Sept. 1.
  • Russia’s crude processing rate averaged 5.518mb/d from Aug. 1-28 and the highest since July 2023.
  • Four-week average seaborne crude export volumes slipped to 3.13mb/d in the week, down by 30k b/d compared to the previous period, Bloomberg said earlier.
  • Refinery runs and crude exports remain key indicators for Russia’s industry trends while the country has pledged to limit crude output as part of its OPEC+ voluntary cuts.