MNI China Daily Summary: Wednesday, July 10

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CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

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Russian Feb Crude Loadings From Western Ports at 2.1mbpd

OIL

Russian crude oil exports from its western ports are expected at 8.2mn tons, or 2.1mbpd, in February, in line with forecasts and broadly unchanged on a daily basis from January levels, industry sources told Reuters.

  • Russia's loading plans for the ports of Primorsk, Ust-Luga and Novorossiisk in February were revised up earlier this month as additional Rosneft volumes freed up after the shutdown of its Tuapse oil refinery.
  • Rosneft’s Tuapse refinery remains offline and will not restart operations in February after it was hit by a drone attack on 25 January.
  • Rosneft has added nine cargoes to February's provisional loading plans for the three ports.
  • Gazpromneft will ship one additional cargo from Ust-Luga, data from industry sources showed.
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