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Russian Oil Product Exports Hit Multiyear Low in H1 April

OIL PRODUCTS
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Russian oil product exports slumped to a post-pandemic low in H1 April, according to Platts’ tanker tracking data.

  • Export loadings of diesel, fuel oil, naphtha and other refined products averaged 1.81 million b/d during the week ending April 14, down 560k b/d from March and over 830k b/d below January levels.
  • The last time Russia’s export loadings fell below 2m b/d was during the Covid lockdowns of 2020.
  • Market watchers expect some additional crude exports amid some continued damage to refineries.
  • Russia's weekly seaborne crude loadings reverted to their longer-term average by April 1, according to Platts.

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Russian oil product exports slumped to a post-pandemic low in H1 April, according to Platts’ tanker tracking data.

  • Export loadings of diesel, fuel oil, naphtha and other refined products averaged 1.81 million b/d during the week ending April 14, down 560k b/d from March and over 830k b/d below January levels.
  • The last time Russia’s export loadings fell below 2m b/d was during the Covid lockdowns of 2020.
  • Market watchers expect some additional crude exports amid some continued damage to refineries.
  • Russia's weekly seaborne crude loadings reverted to their longer-term average by April 1, according to Platts.

Keep reading...Show less