Smoke billows after Ukraine’s SBU drone strikes a refinery, amid Russia’s assault on Ukraine, in Ryazan, Ryazan Area, Russia, on this display screen seize from a video obtained by Reuters, March 13, 2024. Video Obtained By Reuters | By way of ReutersCrude oil futures rose Monday as Ukrainian drone strikes disrupt Russian refining capability and Moscow orders output cuts to fulfill OPEC+ targets.The West Texas Intermediate contract for Could gained $1.32, or 1.64%, to settle at $81.95 a barrel. The Brent contract for Could added $1.32, or 1.55%, to settle at $86.57 a barrel.Russia has ordered corporations to chop oil output to fulfill Moscow’s commitments to OPEC+, business sources instructed Reuters Monday. A number of OPEC+ nations have agreed to voluntary manufacturing cuts totaling 2.2 million barrels per day by the second quarter.A Ukrainian drone assault brought about a hearth on the Kuibyshev oil refinery within the metropolis of Samara over the weekend. Trade sources instructed Reuters that one of many main refining models on the facility was knocked out after the assault.Oil Costs, Power Information and AnalysisKyiv has launched a marketing campaign of strikes in opposition to Russian vitality infrastructure for the reason that begin of the yr with Ukrainian intelligence claiming a dozen amenities have been efficiently hit. A minimum of 10% of Russia’s refining capability has been disrupted by the assaults, in keeping with British intelligence.”Relying on the extent of the injury, main repairs may take appreciable time and expense,” the British Ministry of Protection mentioned in an replace over the weekend.Don’t miss these tales from CNBC PRO: