Russia Oil Roundup:

Crude oil supplies from the Novorossiisk port in Russia are 50% below the planned schedule in November amid continued Black Sea storm disruption according to Reuters sources.

• Urals price averaged $72.84/bbl in November according to the Russian Finance Ministry – down 10.6% m/m but a sixth consecutive monthly average above the G7 $60/bbl price cap.
• The US Treasury Department imposed sanctions on three entities after it identified three vessels that used price cap coalition services while carrying Russian crude oil above the G7 price cap of $60/bbl.
• Russia is expected to increase exports of diesel from major western ports by 681kbd in December, an increase of 28% from last month up to 2.83m tons according to Bloomberg based on Kpler data.
• Russian crude shipments via its Pacific Coast terminals hit a new record of 1.185mbpd in November, Bloomberg ship tracking data showed.
• Russian crude and condensate shipments via Russia’s Arctic ports fell to 255kbpd lowest level since September 2022 according to Bloomberg ship tracking data.
• Russia’s exports of crude oil to India slumped in November, according to Platts, amid rising freight rates and tighter sanctions compliance.