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Russian Diesel Exports to Increase in Dec Before EU Ban

OIL PRODUCTS

Russia’s diesel exports via Baltic and Black Sea ports are set to reach the highest this year at 2.48m tons in December according to Bloomberg based on industry data.

  • Diesel shipments from Primorsk, Novorossiysk and Vysotsk are forecast to be nearly 20% higher than November and over 50% higher than October.
    • Primorsk at 1.753m tons in Nov up from 1.466m tons in Nov
    • Vysotsk at 0.29m tons unchanged from 0.290m tons
    • Novorossiysk at 0.440m tons from 0.314m tons
  • Russian diesel exports remain strong with European buyers trying to rebuild distillate stocks ahead of the EU ban on Russian seaborne flows from Feb 5. IEA estimated that Europe were importing 560kbpd of Russian diesel in October.

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