Global refining margins have hit multi-year highs in November due to sanctions on Russia, refinery outages and maintenance, according to LSEG data and analysts, and some see little respite without more plants being built in the Western world.

Russia's fourth-largest oil processor, Rosneft’s Ryazan refinery, has suspended crude processing until at least December 1 after a Ukrainian drone strike severely damaged its main crude distillation unit.

Crude oil inventories decreased last week by 3.4 million barrels as exports increased and refineries ran at a higher rate, said the EIA.

The cat cracker and cat cracker reactor structure were demolished in a planned takedown this past weekend that was captured on video.

Bulgaria is racing to prevent the shutdown of its only oil refinery before U.S. sanctions on its Russian owner take effect later this month

RIL stops importing Russian crude into its SEZ refinery from 20 Nov and switches to non-Russian oil for exports ahead of the EU’s January 2026 restrictions.

The Indian supplier has come under fierce criticism for using cheaper Russian oil to boost its profits, helping Putin finance his war in Ukraine.

The Ryazan Oil Refinery of Rosneft, one of the largest in Russia, has suspended oil processing following a Ukrainian drone attack on November 15. — Ukrinform.