Ukraine’s recent spate of drone attacks on oil refineries in Russia have led to a question among analysts and traders: will it result in Moscow diverting large amounts of crude — that the plants are unable to process — into the global market place? The answer is: there are practical limits and political considerations that mean it would be wrong to assume that every barrel of blown up refining capacity becomes a barrel more exported crude. US Defense Secretary Lloyd Austin warned last week that Ukraine should focus on military targets because the attacks risk impacting global energy markets. The International Energy ... (full story)