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Investing.com -- Russian refineries are ramping up their crude oil processing in an effort to augment fuel exports. This move comes after the imposition of new U.S. sanctions on Russian tankers and traders, which have made the export of unprocessed crude more challenging, according to a report by Reuters.
Since 2022, Russia has been working on strategies to adapt to Western sanctions, which were imposed in response to the invasion of Ukraine. These strategies include the procurement of a new fleet, shifting oil exports from Europe to Asia, and seeking new fuel customers in regions like Africa and Latin America.
A noticeable increase in refining runs was observed between Jan 15-19, with a rise of 2%, or by 108,000 barrels, to 754,800 metric tons a day.
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