Ukraine and Iran Strikes Hit Russian and Saudi Oil Refineries, Deepening Global Shortage

Ukrainian forces launched targeted strikes on three major Russian oil refineries, temporarily disrupting fuel production and logistics and reducing domestic output. The attacks coincided with the missile hit on a sanctioned vessel in the Black Sea, raising concerns over maritime security.

Separately, Iranian‑aligned militants used drones to damage the Saudi oil processing hub at Abqaiq, taking more than 1.2 million barrels per day of refining capacity offline. Combined with the damage to Russian facilities, analysts estimate a global refining deficit of about 6.5 million barrels per day, worsening an already strained energy market as winter approaches. The growing vulnerability of key shipping lanes—including the Black Sea, the Strait of Hormuz and the Bab al‑Mandeb—adds further risk to worldwide oil supplies.