❗️Russia's oil refining could fall to 4 million barrels per day in August, Kpler estimates, 100,000 bpd below June's already multi-year low.

❗️Russia's oil refining could fall to 4 million barrels per day in August, Kpler estimates, 100,000 bpd below June's already multi-year low. An industry source estimates August throughput at 3.8-4.1 million bpd, with the usual 5.3-5.5 million bpd not expected to return in 2026. Gasoline remains particularly strained: July production covered only 70% of demand. The critical level for supplying Russia's domestic fuel market is estimated at 3.3-3.5 million bpd.