The International Energy Agency (IEA) has supported the United States' position that Ukrainian drone attacks on Russian oil refineries may disrupt global markets for petroleum products.

That's according to Bloomberg, Ukrinform reports.

About 500,000 to 600,000 barrels a day of the country's crude processing capacity could be offline this quarter on a gross basis, before offsets, according to the IEA's monthly report.

The shutdown of these refineries or units for between four to eight weeks for repairs "could mean a significant loss" of Russian petroleum product exports, the agency said on Friday. International markets rely on Russian exports of diesel, naphtha and jet fuel, the IEA said.

The IEA effectively echoed a statement by U.S. Defense Secretary Lloyd Austin, who warned that Ukrainian attacks "could have a knock-on effect" on the global energy market.

So far, the actual decline in oil refinery output has been much less. The IEA data shows that official weekly data on Russian refineries through the end of March matched crude oil production volumes of 5.0 to 5.2 million barrels per day, not the 4.6 million barrels per day indicated by an upper estimate of refinery outages.

Russian refiners processed an average of 5.25 million barrels per day in the first three days of April. Bloomberg calculations based on historical data show that despite the recovery since mid-March, daily refining volumes remain significantly below the 5.78 million barrels of crude processed in the first few days of April last year.




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Ukraine should have known that by now that they're being used.

Imagine, USA is telling them not to attack Russian refineries because it will disrupt energy security in other words,it will get prices spiraling out of control. Meanwhile Russia has been bombing their country and their most important assets like wheat.

What this means is that you can fight Russia and take damages but don't harm them because we still need them

Big lies! We gat dangote refinery here

USA should be referred to as Madaru ( destroyers)

Who provided the drone for the Ukraine?

That is the power and influence of an oil producing country, unlike the situation in Nigeria, where we are still grappling with one or two refineries. Performing below our potential, despite the abundance of natural resources.

If it leads to the price of oil shooting up, Nigeria and the naira will benefit from it.

michlins:
Ukraine should have known that by now that they're being used.

Imagine, USA is telling them not to attack Russian refineries because it will disrupt energy security in other words,it will get prices spiraling out of control. Meanwhile Russia has been bombing their country and their most important assets like wheat.

What this means is that you can fight Russia and take damages but don't harm them because we still need them

If the price of oil shoots up, it will have an effect on Biden in the presidential election

Paraman:
If it leads to the price of oil shooting up, Nigeria and the naira will benefit from it.

Not really. Much of Nigeria’s oil has been sold and paid for in advance by your corrupt politicians who have been borrowing and embezzling

Paraman:
If the price of oil shoots up, it will have an effect on Biden in the presidential election

how

coputa:
how

The price of petrol, gas and diesel will become more expensive in the USA.

Paraman:
The price of petrol, gas and diesel will become more expensive in the USA.

how will that affect the election

The war should just stop, uts over stayed

US and Russia are just luke divorcee husband and wife, they have common interests discuss always

coputa:
how will that affect the election

I said it will have an effect on Biden in the presidential election oga... Go through my comment again

Paraman:
The price of petrol, gas and diesel will become more expensive in the USA.

The attacks started about 3 weeks ago or so. Price of gas has jumped up already. Hopefully, it would jump up more.

https://www.cnbc.com/2024/03/13/oil-prices-rise-as-us-inventories-fall-ukraine-strikes-russian-refineries.html