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Only oil matters and oil is measured by numbers, not feelings.

Russia’s refining capacity is about 5.6 million barrels/day. That is throughput. Crude comes in, petroleum products (like gasoline, diesel, kerosene (jet fuel), asphalt) go out.

Russia’s domestic consumption is 3.6 million barrels/day. BE AWARE WHEN READING ABOUT OIL that in a general sense, Russia denotes oil by tonnes. So tonns/year, not barrels/day — and this matters because not all oil is created equal. Some is denser and heavier than other blends.

Reuters calculations do not match mine. They say 14% of refining is offline. I have looked at how they did this and it is pretty clear they are declaring any refinery touched to be 100% offline and more important, that it has remained offline since that day. These are drones. They have tiny payloads. They cannot do enough damage to generate months of 100% shut down. My own estimate is about 4% offline on average for the last 2 months.

This is 224K barrels/day. This is just too small a number to be remotely significant.


18 posted on 03/28/2024 9:02:27 AM PDT by Owen (.)
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To: Owen

For anyone who actually cares about accurate oil information about Russia or anywhere else, this huge spreadsheet has been compiled annually for about 70 years by BP. They have offloaded it to an “Energy Institute” that they largely run, or are the primary data source for.

https://www.energyinst.org/statistical-review/resources-and-data-downloads

The spreadsheet is large, because every single country is individually profiled for oil, gas, coal, nuclear, solar . . . everything, both production and consumption.

This is where numbers come from. Not journalism majors who know nothing.


19 posted on 03/28/2024 9:11:18 AM PDT by Owen (.)
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