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Russia Plans Increased Seaborne Diesel Exports in March

OIL PRODUCTS

Russia plans to increase seaborne diesel exports in March to a new monthly high despite the EU sanction which started on 5 Feb.

  • Planned export from the Russian ports in the Baltic Sea and Black Sea are up 1.3% from Feb at 2.77m tons in March according to Bloomberg.
  • The seaborne exports of diesel would be the highest in at least three years in a sign that Russia is finding alternative buyers away from Europe to countries such as Brazil, Morocco, South Korea and Singapore.
  • Volumes at sea are increasing to the highest since October 2020 with longer transportation distances and with some cargoes potentially shipped without having a firm buyer.

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