Russia Extends Fuel Export Ban Amid Record Refinery Strikes

The Russian government has extended its ban on diesel and marine fuel exports by producers until Sept. 30 in an effort to stabilize the domestic market. The extension follows a record 21 Ukrainian drone strikes on Russian oil refineries in August, driving refining capacity to its lowest level in over two decades. August refining averaged just 3.8 million barrels per day, causing a 20% drop in gasoline supplies and a 23% drop in diesel production.