Refining in Europe appears to be in a state of decline but Türkiye and Eastern Mediterranean Operators are holding their own.

Drones attacked the city of Tuapse in Russia's Krasnodar Krai on the night of 30-31 December, causing fires at the port and at a local oil refinery. Source: Astra Telegram channel; Krasnodar Krai operational headquarters Details: Local residents reported sounds of explosions and a large-scale fire near an oil storage facility at around midnight.

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The Tema Oil Refinery (TOR) has officially resumed crude oil refining operations after several years of inactivity.

A Ukrainian drone attack injured two people and sparked a fire that was quickly extinguished at the Tuapse oil refinery, the operational headquarters of Russia's Krasnodar region said on Wednesday.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 1.9 million barrels to 422.9 million barrels in the week ended Dec. 26 and were about 3% below the five-year average for the time of year, the EIA said. Crude stocks were expected to have risen by 100,000 barrels, according to a Wall Street Journal survey of analysts.