Oil refining volumes in Russia have collapsed to their lowest level in over 20 years. According to EA Analytics, in July 2026, the average oil refining volume in the Russian Federation is 3.91 million barrels per day - the lowest figure since March 2005. Calculations show that this is more than 1.4 million barrels per day less than the average for the same period in 2025. According to Bloomberg, over the past 100 days, Ukrainian forces have carried out about 50 attacks on Russian fuel production facilities. The International Energy Agency reports that the wave of Ukrainian attacks since early May has affected more than half of Russia's oil refining capacity. At least 24 out of 34 major refineries, most of which are linked to the largest Russian oil companies, have been hit. In June, Russian refineries processed about 3.8 million barrels of oil per day - 1.6 million barrels less than in the same period last year.