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Russia's Idle Capacity from Drone Strikes Highest Since 2022: Goldman Sachs

OIL

Russian refinery outages related to drone attacks have been rising towards levels seen in 2022 at the start of the Ukraine war, weighing on the country’s diesel imports, Goldman Sachs said.

  • Unplanned refinery maintenance rose to 0.7m b/d last week, near the 1m b/d level in May 2022
  • "Russian diesel exports have been falling for weeks after the drone attacks on Russian refineries that first started in January. This supports our structurally bullish view on refinery margins as we see refinery disruptions as an upside risk," Goldman Sachs said.

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