Drone Strikes Lift Russia's Crude Exports to Wartime High

Bloomberg cites tanker-tracking data showing Russian seaborne crude exports rose to their wartime high as Ukrainian drone strikes on refineries cut domestic processing capacity, leaving more crude for export; 2026 average exports are about 3.46 million barrels per day (bpd), with a four-week average around 3.64 mbpd and weekly export value near $2.24 billion as of May 31. Moscow has tightened fuel exports (including jet fuel bans) while some export terminals resumed normal operations; analysts say higher exports may not necessarily boost state revenue if refinery capacity remains constrained, and shortages have appeared in Belgorod, Kursk, Ryazan and Crimea.