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Russia Plans To Raise July Seaborne Diesel Exports

OIL PRODUCTS

Russia is planning to raise daily diesel exports from its western ports in July to 2.44mn tons, the highest level since March, industry data seen by Bloomberg showed.

  • This is equivalent to more than 578kbpd, up by 11.45% from the expected June levels.
  • Russia plans to ramp up diesel exports as annual refinery maintenance season comes to an end. Russia processed 5.46mbpd of crude in the first three weeks of June, up by around 230kbpd from the average May rate.
  • Processing rates could rise further by 300-350kbpd in July, amid high domestic prices and refiners want to benefit from subsidies that the government intends to halve by fall according to Mikhail Turukalov, an independent oil products analyst.
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