Russia's oil refining drops to 4M b/d in August
Oil refining in Russia may drop to 4 million barrels per day in August. Oil refining at Russian refineries in August may decline to 4 million barrels per day due to unplanned repairs and shutdowns, according to a Kpler review.
Consensus
- Oil refining in Russia may fall to 4 million barrels per day in August.
- The decline is due to unplanned maintenance and shutdowns.
- The Oryol refinery was damaged on August 11, resulting in a six-month repair period.
- The practical minimum for refining capacity is estimated at 3.3–3.5 million barrels per day.
- Gasoline production in early July was at 70% of seasonal demand.
- Refining capacity is not expected to return to 5.3–5.5 million barrels per day by 2026.
Points of divergence
- The Oryol refinery has a capacity exceeding 115 thousand barrels per day and produced about 600 thousand tons of gasoline in 2024. — thebell
- The decline in August would be nearly 5% compared to July’s 4.2 million barrels per day. — kommersant
Coverage (2 sources)
- Refining oil in Russia may update the minimum — The Bell
- Refining of oil in Russia may fall in August to 4 mln b/s — Коммерсантъ