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Russian Urals Maintain Pace to Europe Early-November

OIL

Deliveries of Urals from Russia to European ports showed no signs of declining in the first 10 days of November ahead of the EU ban on December 5 according to Refinitiv.

  • Destinations for early November Russian oil flows were similar to those of early October.
  • India remained the largest buyer of sea-borne Urals November 1-10, purchasing around 600,000 tonnes, while China purchased 200,000 tonnes over the period.
  • In the EU, the main destination was Italy with 300,000 tonnes in the first 10 days of the month. Flows also headed to the Netherlands, Romania, Bulgaria and Croatia.
  • Turkey received 300,000 tonnes in early-November.
  • Oil flows from Russia to Europe are expected to slow into the second half of November.
Energy BulletsCommodities
Energy BulletsCommodities

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