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Russian Refined Product Exports Tick Higher July Driven by Diesel

OIL PRODUCTS

Russia’s oil-product exports are now on track to edge higher this month supported by near record diesel and naphtha outflows.

  • In the first 15 days of July, Russia’s refined fuel cargoes rose about 81,000 bpd to around 2.49mn bpd compared with June’s total, according to Vortexa data compiled by Bloomberg.
  • Higher Russian refined product exports are being supported by higher refinery runs.
  • Shipments of diesel/gasoil rose 8.5% this month to about 1.27mn bpd. That’s near the 1.3 mn bpd seen in March when flows reached the highest in Vortexa data since the start of 2016.
  • Gasoline and blending component flows have more than halved from June’s total to just 45,000 barrels a day, which would be the lowest since December 2017 to support domestic shortages.
  • Naphtha exports are up to around 395,000 bpd- 28% higher than June levels.
  • Fuel oil shipments have slipped from June to about 671,000 bpd.


source: Bloomberg/Vortexa

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