Live Updates > Live Update Details
2026-07-14 21:08:13
[Russian Refining Capacity Severely Damaged, Daily Operating Rate Plummets to 21-Year Low] ⑴ The ongoing Ukrainian drone attacks continue to impact the Russian refining industry, with daily refining output falling to approximately 3.8 million barrels, the lowest level in 21 years. The disruptive effects of geopolitical conflict on the energy supply chain are becoming increasingly apparent. ⑵ As of mid-July, approximately 4.3 million barrels per day of capacity was shut down or affected by the attacks, accounting for nearly 60% of Russia's total refining capacity. The actual shutdown capacity is estimated to be between 1.5 million and 2 million barrels per day. ⑶ The ongoing attacks, coupled with refinery maintenance work, have severely limited the potential for a recovery in operating rates. Analysts predict that the Russian refining operating rate will remain low in the third quarter, with only limited marginal improvement possible. ⑷ With some maintenance activities decreasing, the operating rate is expected to rebound slightly to approximately 4.3 million barrels per day in August. However, the continued threat of drone attacks means that capacity recovery faces significant downside risks, and the future trend remains highly uncertain.
