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Russian Western Facing Crude Loadings Seen Flat June vs May

OIL
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Russia’s oil exports from western ports are expected little changed between May and June based on trading schedules according to Reuters sources.

  • Overall crude oil loadings from Russian Baltic ports including Russian Urals and Siberian Light grades and Kazakhstan's KEBCO oil will amount to 2 mn bpd in June, flat vs May.
  • Russian refineries are expected to gradually decrease seasonal repair work into June – prompting higher domestic demand.
  • Unplanned outages such as attacks could change the scheduling after persistent Ukrainian drone strikes, though their May effectiveness has been limited.
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Russia’s oil exports from western ports are expected little changed between May and June based on trading schedules according to Reuters sources.

  • Overall crude oil loadings from Russian Baltic ports including Russian Urals and Siberian Light grades and Kazakhstan's KEBCO oil will amount to 2 mn bpd in June, flat vs May.
  • Russian refineries are expected to gradually decrease seasonal repair work into June – prompting higher domestic demand.
  • Unplanned outages such as attacks could change the scheduling after persistent Ukrainian drone strikes, though their May effectiveness has been limited.