Russia's Spare Oil Export Capacity Running Out as Drones Hit Refineries

Russia’s ability to divert its crude to the global market is diminishing fast as the nation’s oil refineries come under attack from Ukrainian drones.

Since the start of August, Ukraine has targeted at least 15 refineries across the European part of Russia. Some of the drone assaults succeeded, with Russian refinery runs falling below 5 million barrels a day, according to estimates from JPMorgan Chase & Co. That means about 500,000 barrels a day of processing have been curtailed, based on historic data.