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Russia Plans to Reduce Crude Exports From Western Ports By 25% In March

OIL

Russia plans to reduce crude oil exports from its Western ports in March by 25% from February amid its planned production cut, three sources in the Russian oil market said to Reuters.

  • Russia plans to reduce its oil production by 500kbpd in March. The cut will be made from January output levels and distributed amongst producers according to their share of total the output.
  • Russia’s total seaborne crude exports rose by 26% on the week to 3.6mbpd last week according to Bloomberg vessel-tracking data.

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