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Russia Oil Production Rises in June - Interfax

OIL

Russia’s oil production rose almost 5% in the first half of June compared with May, Russian news agency Interfax reported today based on a source with access to output statistics.

  • Average daily oil production, including condensate, was 1.46 million tonnes in the first 13 days of June, 68,000 tonnes more than May levels.
  • Russia’s average daily oil exports were up by 0.5% during 13 days of June compared with the May monthly average to 662,500 tonnes per day according to the Interfax source.
  • Russian seaborne oil exports were up 9.5% during June 1-13 compared with May to 470,700 tonnes per day, while supplies via pipelines were down by 16.5% to 191,800 tonnes per day.
  • Hungary increased purchases on the Druzhba pipeline by 14% to 19,700 tonnes per day June 1-13 versus May. The other countries connected to Russian oil via the pipeline saw volumes fall over the same dates.
  • Russia has diverted a lot of its oil exports to Asia since March amid looming Western sanctions.
Energy BulletsCommodities
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