As a result of the successful strikes of Ukrainian drones on Russian refineries, the aggressor country of the Russian Federation lost from 600 to 900 thousand barrels of daily oil refining capacity.
Ukraine's attacks on Russia's refineries turned out to be the most effective
The Bloomberg agency decided to contact Torbjorn Tornquist, the general director of the international energy group Gunvor Group Ltd.
The latter points to the fact that Ukrainian drones over the weekend hit several factories in Russia, some of which are located deep within its borders, which led to the rise of diesel fuel futures for the fourth session in a row, while gasoline futures grew for the sixth session in a row.
According to him, this is extremely important because it will seriously blow the export of distillates.
It's probably going to reduce exports by a couple of hundred thousand barrels, so to me it's a distillate issue," he added.
What is important to understand is that Gunvor was a large trader of Russian oil until February 24, 2022, when the Russian Federation went to war against Ukraine, but withdrew from the trade.
JPMorgan comments on Ukraine's strikes on Russian refineries
According to JPMorgan Chase experts, Ukrainian drones were able to disable about 900,000 barrels per day of Russian oil refining facilities.
In addition, it is emphasised that it may take weeks, if not months, to restore capacity.
Moreover, it said the explosions would add about $4 per barrel of risk premium to world oil prices.
Tornqvist points out that crude oil markets are generally balanced and reasonably priced. He also stressed that US supplies may well grow this year by about half as much as in 2023.
