World News

Russia’s oil industry, a stronghold of the economy, feels the sting of disturbances in the war in Ukraine

Oil is maintained through Russia’s energy supply chain and leads to a drop in crude oil production, a blow to Moscow’s main economic engine as the war in Ukraine rages.

Refineries are reducing production and in some cases are closing due to declining demand at home and abroad. Storage spaces are depleted in pipelines and tanks. Wells pumping from some of the world’s largest crude stocks are reducing production.