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Urals Head to Mediterranean in May

CRUDE

The Mediterranean was the top destination for Russian Urals last month, overtaking India the month prior according to Vortexa figures.

  • The Mediterranean accounted for just over a third of the 2.27mn b/d of Urals exported from the Baltic Sea ports of Primorsk and Ust-Luga and the Black Sea port of Novorossiysk in May - this compares with just over a quarter of April's 2.19mn b/d of exports.
  • The Mediterranean imports mainly headed to Italy and Turkey.
  • India accounted for just under 27% of May's exports, down from 43% of April's.
  • Northwest Europe, primarily Rotterdam, accounted for 13% of May's seaborne Urals exports, while only 3% was destined for Baltic buyers.
  • About 7% of May's Urals seaborne shipments were destined for China, up from 5% of April's exports.
  • June’s Urals export schedule is unknown after Transneft said it will no longer circulate monthly loading programmes.

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