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Russian May Seaborne Oil Product Exports Fell 14.7% MoM

OIL PRODUCTS

Russia's seaborne oil product exports in May fell by 14.7% month on month to 10.034mn tonnes, weighed on by seasonal maintenance and higher domestic demand, data from industry sources and Reuters calculations showed.

  • Seaborne diesel and gasoil exports fell by 21% on the month to 3.1mn tonnes in May, Reuters reported earlier this month.
  • Idle primary oil refining capacity has been revised up for May by 500,000 tonnes from the previous plan, to 5.0mn tonnes, due to extended maintenance at several refineries.
  • Fuel exports via the Baltic ports - Primorsk, Vysotsk, St. Petersburg and Ust-Luga - on a daily basis in May fell by 23.8% month on month to 4.8mn tonnes.
  • Oil product exports via Russia's Black Sea and Azov Sea ports fell by 4.2% to 4.435mn tonnes.
  • Oil products export loadings at Russia's Far East ports in May fell by 9% on a daily basis to 700,000 tonnes.
  • Las month, Russia said it aimed to boost daily diesel seaborne exports from the western ports to 2.2mn tons in June according to industry data seen by Bloomberg.
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