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Russian Crude Exports Rise in June

OIL

Russia: crude exports by sea so far in June are up by 266kpd versus May at 3.925mbpd, driven by higher flows from Ust-Luga in the Baltic Sea and Kozmino in the Far East according to Petro Logistics.

  • Russia have been reported to be boosting flows from eastern ports to target the Asian market as export options to the west diminish. Russia is utilising higher flows of crude via pipe and rail towards eastern ports to try and boost export product availability for the Asian market.
  • At 1.7mb/d, crude oil exports from Russia to Asia are 260kb/d lower than in May, but with a high level of June loaders still without a known destination, crude exports to China/India could easily reach 2mb/d this month - as they were in April.

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