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Rise in Russian Oil Processing Expected to Continue as Works Come to End


The return of refineries from seasonal maintenance has driven Russian oil processing to the highest in seven weeks according to Bloomberg. Processing increased by 210kbpd week on week to 5.48mbpd in the week to 25 Oct.

  • Russia’s average daily processing in Oct. 1-25 was 5.31mbpd compared to 5.38mbpd for most of September.
  • Refinery runs may reach 5.8mbpd by December according to Kpler as processing rates continue to rise as refineries return from maintenance. An extra 250kbpd of primary capacity will come back online in the second week of November according to Viktor Katona at Kpler.
  • Russian crude flows have ticked higher through October suggesting a waning commitment to the pledge cut to crude exports but the recovery in run rates could help reduce Russian crude exports.

Source: Bloomberg

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