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Russian Crude Exports From Western Ports Rose Again in May

OIL

Crude loadings of mostly Urals from Russia’s western ports are expected up to 10.6m tons (or 2.51mbpd) in May from 2.42mbpd in April according to Bloomberg from shipping tracking data.

  • The daily output was the highest on record since October 2018 despite Russia’s pledge to cut output by 500kbpd.
  • Primorsk loaded about 1.11mbpd of Urals in May compared with 1.08mbpd in April.
  • Ust-Luga loaded 709kbpd of Urals compared with 733kbpd in April.
  • Novorossiysk exported 686kbpd compared with 616kbpd in April of mostly Urals cargoes.
  • Russian origin crude accounted for 92% of total exports from the three ports this month at 9.76m tons, compared with 8.9m tons for April. India will receive at least 5.68m tons, China at least 820k tons, Turkey 920k tons, and Bulgaria 320k tons.
  • About 840k tons of Kazakhstan-origin Urals was shipped in May, compared with 1.02m tons in April.
Energy BulletsCommodities
Energy BulletsCommodities

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