As reported by Reuters, the Novorossiysk port in Russia has restarted its oil loading activities after a brief halt caused by a Ukrainian missile and drone strike. This suspension lasted for two days and raised concerns over global oil supply.
The temporary shutdown affected approximately 2% of the world’s oil supply, equating to around 2.2 million barrels per day. Following the attack on Friday, global oil prices surged by more than 2%, reflecting market anxiety over potential supply disruptions.
Industry insiders revealed that operations at Novorossiysk have now resumed, with two tankers-the Suezmax class Arlan and Aframax class Rodos-currently engaged in loading crude at the port’s facilities. The recent assault resulted in damage to two of Novorossiysk’s oil berths.
This incident marks one of the most significant attacks on Russia’s primary Black Sea export terminal to date. Notably, Novorossiysk is responsible for about 20% of Russian crude exports; any prolonged closure could lead to costly halts in production from West Siberian oil wells, severely impacting global markets given Russia’s status as the second-largest exporter worldwide.
The strike follows months of escalating Ukrainian drone assaults targeting Russian energy infrastructure including refineries and pipelines. Despite these aggressive actions, reports indicate that Russia’s overall oil processing has only decreased by about 3% this year.
In October alone, shipments through Novorossiysk’s Sheskharis terminal reached approximately 3.22 million tonnes (around 761,000 barrels per day), while an additional 1.794 million tonnes of refined products were exported from this key hub.
