refining
The gist
Drone damage to the Moscow oil refinery is pushing fuel prices up more than crude costs.
Refining capacity, not crude supply, is now the pinch point for fuel buyers.
How it unfolded
- 2024The Moscow oil refinery processed approximately 230,000 barrels of crude oil per day.
- Sep 20, 2026A Ukrainian drone attack damaged the Moscow oil refinery, causing fires at its two main crude distillation units.
- Oct 8, 2026Refinery outages are pumping up fuel prices more than the cost of crude oil.