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Russian Offline Refinery Capacity to Fall 22% October m/m

REFINING

Russian offline refining capacity is expected to fall 22% in October from September to 4 million tons according to sources and Reuters calculations.

  • Rising refinery runs are expected to reduce available crude for export and more easily help Russia stick to its 300,000 bpd crude export restrictions which it is already abiding by based on the latest Bloomberg calculations.
  • Russia's offline refining capacity last month rose by 7.2% from an initial plan to 4.967 million tons, also up 30% from September 2022.
  • Russian offline capacity is set to more than halve in November to 1.722 million tons according to Reuters sources.

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