An oil tanker. Photo: Getty Images

Russia has revised its August oil export plan from western ports upwards after Ukrainian drone attacks disabled several refineries and freed up more crude for export.

Source: Reuters, citing sources

Details: Export plans remain uncertain, however, due to ongoing strikes and shifting repair timelines, raising the risk of delays and further adjustments.

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“Attacks are ongoing and repair deadlines change daily. It’s unclear how much Russia can load this month or next,” a source said.

Russian oil sellers have yet to receive final September loading schedules, which they normally get a week before the start of the month.

The refinery disruptions come as Moscow seeks to boost revenues despite Western sanctions and US pressure on key buyers to curb Russian imports.

Exports from the ports of Primorsk, Novorossiysk and Ust-Luga are estimated at about 2 million barrels per day, up from an initial plan of 1.8 million barrels.

The adjustment follows August strikes on 10 Russian refineries, which shut down facilities accounting for at least 17% of national refining capacity, or 1.1 million barrels per day, according to Reuters.

Background: Reuters estimates that Ukrainian attacks have disrupted at least 17% of Russia’s oil refining capacity.

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