Russian January Rail Fuel Oil Supplies Down 1.2% YoY

Russian January fuel oil supplies by rail declined by 1.2% on the year and by 6.2% on the month amid refinery outages due to Ukrainian drone attacks on Russian energy infrastructure, industry sources told Reuters.

• The Baltic Sea port of Ust-Luga remained the main destination for Russian fuel oil, handling some 46% of total supplies.
• Fuel supplies to Ust-Luga, however, declined by 18% on the year and on the month to 1.177mn tons as producers redirected supplies to other ports.
• Domestic market fuel oil supplies fell by 8.9% on the year and by 5.8% on the year to 718k tons last month, sources said and Reuters calculations showed.
• Russian refinery processing rates last month fell by 4% on the year and b y 1.4% on the month, Komersant reported last week.
• In the week through 31 January, Russian refinery rates have fallen to a near-two month low of 5.41mbpd, while total January rates averaged 5.48mbpd according to Bloomberg calculations.