Russia Cuts June Western Oil Exports to 1.7 Million Bpd as Refineries Raise Runs
Updated
Updated · Reuters · Jun 8
Russia Cuts June Western Oil Exports to 1.7 Million Bpd as Refineries Raise Runs
3 articles · Updated · Reuters · Jun 8
Summary
June crude loadings from Primorsk, Ust-Luga and Novorossiysk are set to drop to 1.7 million bpd from 2.5 million bpd in May, according to industry and trading sources.
Russia plans to lift refinery throughput by 250,000-400,000 bpd to ease seasonal fuel shortages, diverting crude from exports at a time when output is still weakening.
Russian production likely fell by about 100,000 bpd in May after a 300,000-400,000 bpd drop in April, with Deputy Prime Minister Alexander Novak citing unplanned refinery maintenance.
Ukrainian drone strikes on ports, pipelines and refineries since March have disrupted processing and logistics, forcing Russia to balance domestic fuel supply against export volumes.