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How is the rebalancing of the oil market handling Russia’s degraded refining capacity, and sanctioned dark fleet?
The global oil market is navigating a complex rebalancing act amid geopolitical disruptions, sanctions evasion, and shifting supply dynamics. As of mid-July 2026, Brent crude trades in the low-to-mid $80s per barrel (recent levels around $84–85/bbl, with fluctuations that have included periods near or below $80), reflecting a premium for supply risks even as physical flows continue through unconventional channels. Russia’s refining capacity has been severely degraded by sustained Ukrainian drone strikes, forcing a pivot toward higher crude exports. Meanwhile,
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Halliburton Sees Improvement in North American Activity in 2026
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How is the rebalancing of the oil market handling Russia’s degraded refining capacity, and sanctioned dark fleet?
The global oil market is navigating a complex rebalancing act amid geopolitical disruptions, sanctions evasion, and shifting supply dynamics. As
The Doomsday Oil Price Did Not Show Up. We Ask Why
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