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Russian Fuel Exports Remain Elevated Despite Sanctions


Russia’s exports of fuels such as diesel and gasoline are on course to remain well above seasonal norms this month despite EU sanctions, Vortexa data showed.

  • Shipments of clean petroleum products — of which more than half are diesel-type fuel — stood at 1.9mbpd during the first three weeks of April, Vortexa data showed.
  • If that rate continues for the rest of the month, exports will be their highest for the time of year since at least 2016.
  • Exports of diesel-type fuel in March hit the highest level on record in data going back to the start of 2016. Much of Russia’s diesel-type fuel has been exported to Turkey, North Africa and Brazil since the start of the EU sanctions on 5 Feb.
  • Overall clean petroleum product exports in April are on track for a monthly decline, amid slightly reduced oil processing rates during seasonal maintenance.
  • In April Russia’s oil refinery runs are expected to exceed 23mn tons. This would be up by around 17% on the year, as refiners decided to delay routine work for a coupe of months to profit from good margins.
  • Russia’s oil refinery throughput in March rose by around 10% year on year to 24.1mn tons.

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