Russia's Black Sea Oil Port Faces Fuel Shortages
Hyperdash NewsCommoditiesThe Russian Black Sea port city of Novorossiysk is reportedly experiencing fuel shortages following ongoing Ukrainian attacks on Russian refineries. Gasoline production in Russia has fallen 17% to 850,000 barrels per day from 1.03 million a year ago. Crude oil processed into fuel in June was down 25% from a year ago to 3.95 million barrels per day, the lowest level in over two decades.
About a third of Russia's oil refining capacity is currently offline. These supply disruptions could impact oil exports and global crude prices. 
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