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OIL: Ust Luga Flows Set at Lowest Since 2021 in Jan

OIL

Russia’s Ust-Luga port has cut its oil loadings in Junary to half capacity partyly due to issues on Transnefts pipeline system traders told Reuters.

  • Scheduled oil loadings from the Ust-Luga terminal in January are expected at around 350,000 bpd, down from a maximum capacity of 700,000bpd.
  • LSEG says the flows will be their lowest since 2021.
  • The sources said the decline in oil loadings from Ust-Luga started in mid-December, shortly after the suspension of supply via the Druzhba pipeline due to a technical issue.
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Russia’s Ust-Luga port has cut its oil loadings in Junary to half capacity partyly due to issues on Transnefts pipeline system traders told Reuters.

  • Scheduled oil loadings from the Ust-Luga terminal in January are expected at around 350,000 bpd, down from a maximum capacity of 700,000bpd.
  • LSEG says the flows will be their lowest since 2021.
  • The sources said the decline in oil loadings from Ust-Luga started in mid-December, shortly after the suspension of supply via the Druzhba pipeline due to a technical issue.