Updated
Updated · Bloomberg · Aug 25
Russian Crude Exports Fall to 3.46 Million Barrels a Day as Ukraine Drone Strikes Snarl Flows
Updated
Updated · Bloomberg · Aug 25

Russian Crude Exports Fall to 3.46 Million Barrels a Day as Ukraine Drone Strikes Snarl Flows

3 articles · Updated · Bloomberg · Aug 25

Summary

  • 3.46 million barrels a day of Russian crude was shipped overseas in the four weeks through Aug. 23, Bloomberg tanker-tracking data showed, marking a drop as Black Sea disruptions hit exports.
  • Ukraine’s two-pronged drone campaign is squeezing Russia on both fronts—striking refineries and Black Sea ports—damaging fuel supplies while also limiting Moscow’s ability to reroute crude abroad.
  • Earlier refinery attacks had briefly lifted exports by leaving more crude available for shipment, but that gain is now reversing after drone hits on oil tankers curbed Black Sea loadings.
  • The combined effect shows Ukraine’s strikes are moving beyond refinery outages to disrupt Russia’s broader oil logistics network and export earnings.

Insights

What happens to the global oil supply if the vulnerable shadow fleet in the Black Sea is completely paralyzed?
Could targeted drone strikes on Russian hydrocrackers achieve the economic collapse that international sanctions failed to deliver?
How will Russia's unexpected need to import fuel impact its war machine and global energy markets in 2026?