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Russian Refining Sector to Absorb Export Cut

OIL

Russia should be able to achieve its upcoming export target cuts without needing additional production cuts according to Bloomberg analysis as it redirects export volumes to its sharply returning refining sector.

  • Kpler analysts agree concluding “The 500,000-barrel-a-day export cut will be fully absorbed by the domestic refining segment.”
  • See attached image of seaborne switch into domestic refineries. Source: Bloomberg

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