MNI Oil Weekly: Drone Strikes Showing in Russia Flows

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Executive Summary:

• Drone Strikes Showing in Russia Flows: Fears of notable sanctions on Russian oil have faded in recent weeks but Ukrainian drone strikes on its refineries are resulting in oil and oil product flow shake up’s.
• Oil Markets: Crude markets are under downward pressure as market focus switches away from geopolitical risks to excess supply concerns ahead an OPEC meeting this weekend. Diesel cracks have eased back after the European spread reached the highest since Mar. 2024 last week on Russia’s ban on diesel exports for non-producers until the end of the year.
• Analyst Views: See oil market views and outlooks from key industry names.