Due to Ukraine’s attacks on Russian refineries, there is a risk of undermining global oil product market – Bloomberg

The International Energy Agency (IEA) is concerned that Ukrainian drone attacks on Russian oil refineries could undermine global oil product markets.

Bloomberg reported on this issue.

“International markets depend on Russian exports of diesel fuel, oil, and aviation kerosene, and oil refining systems in Asia absorb significant volumes of straight-run and cracking residue from Russia to increase the amount of raw material for processing,” the IEA report said.

In connection with this, the Agency reiterated a statement by US Secretary of Defense Lloyd Austin, who said that Ukrainian attacks could have a negative effect on the global energy market.

At the same time, as the publication writes, Ukrainian attacks have not had a significant effect so far, as Russian production has remained within normal limits, and many enterprises have been able to quickly conduct repairs.

Experts believe that this year, Russia will continue to reduce production on its own, as it pledged to do a year ago under the OPEC+ agreement.

It is worth reminding that the United States believes that Ukraine should not target Russian oil refineries. Earlier, the head of the Pentagon warned that Ukraine’s strikes on Russian oil refineries threaten the world’s energy security.