Page 107 - bneIntelliNews monthly country report Russia May 2024

Ukraine's attacks on Russian oil could threaten global energy market. U.S. defence Secretary Lloyd Austin warned that recent Ukrainian attacks targeting Russian oil refineries could have a "knock-on effect" on the global energy situation, Bloomberg said on April 9.
"It is better for Ukraine to focus on tactical and operational goals that can directly affect the course of hostilities," the head of the Pentagon emphasised. Bloomberg emphasises that the United States is trying to strike a balance between reducing Russia's profit from the sale of energy resources and ensuring that enough hydrocarbons continue flowing to global markets to maintain a stable economy. World oil prices are currently the highest in almost six months, primarily due to tensions in the Middle East. Meanwhile, the world's largest energy trader, Vitol, forecasts an increase in global oil demand this year by 1.9 million barrels per day and points to a possible price range of $80 to $100 per barrel.
Attacks by Ukrainian drones led to the shutdown of part of the capacity of Russian refineries and a reduction in fuel output. Manufacturers can
107 RUSSIA Country Report May 2024 www.intellinews.com