Russia's Oil Exports Extend Their Slump Amid Ukrainian Drone Strikes

Russia's oil exports have continued their decline for a fifth consecutive week, with significant disruption at the Novorossiysk oil terminal where no crude was loaded during the week ending August 16. The slump is attributed to Ukrainian drone strikes targeting Russian oil infrastructure, undermining Moscow's ability to maintain export volumes. This extended downturn reflects the ongoing impact of military operations on Russia's critical energy sector.