Russia’s Oil Refining Collapses to 2005 Levels as Ukrainian Drone Strikes Bite

Global diesel prices are climbing after Russia’s oil refining output fell to its lowest level since 2005. The collapse follows months of sustained Ukrainian drone strikes on Russian refineries. The attacks have crippled processing capacity, forcing Moscow to cut production. Analysts warn the disruption could tighten fuel supplies worldwide, especially as winter demand rises. The development marks a significant shift in the economic pressure of the war, even as Kyiv’s allies struggle to keep up with air defense needs.