Oil refinery in Russia suffers from sanctions
Refining throughput drops by 6%
What happened. In the first half of March, oil volumes in the Russian Federation fell by 6% due to EU and US sanctions.
Source. Russian media outlet Kommersant.
Details. During the first half of March, Russian refineries have lowered the volume of oil refining by 6% to 742,500 tonnes per day compared to February. All because of restrictions imposed by the European Union and the United States.
According to Kommersant, a decline in oil refining is likely to cause a drop in oil production since its export overlaps with the boycott of Western companies and traders.
As estimated by Argus, oil production (without condensate) in Russia may decrease by 16% as early as April to 8.8 million barrels per day compared to March.
After the outbreak of war and sanctions imposed by the US and EU, Russian manufacturers have begun to experience problems with the downstream, describes the article.
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