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Russian Oil Refining Down 7% From Early 2024

REFINING

Russian oil refining has declined by around 7% since the start of the year, Russian Energy Minister Nikolai Shulginov said, cited by Reuters.

  • Russia’s oil refining forecast for 2024 is set at 275mn tons.
  • He added that Russia must take into account OPEC recommendations on production and would determine its export volumes based on commitments.

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