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Russian Diesel Exports Prove Resilient in February

OIL PRODUCTS

In the first half of February, shipments of diesel-type fuels from Russia’s ports averaged more than 1 million bpd — down around 150,000 bpd from January, but still well above the 2022 daily average according to Vortexa.

  • The IEA said last Wednesday it expects Russia to struggle to place all of its diesel volumes into global markets and that it will subsequently have to cut refining runs.
  • Higher Russian refinery maintenance and lower crude runs in the coming months should see the country’s diesel exports decline going forward.

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