Russia’s seaborne oil exports and transit from its western ports will rise by some 17% on a daily basis in September from August, as domestic refineries cut runs due to seasonal maintenance, traders data
The ports of Primorsk, Ust-Luga and Novorossiisk will load about 2.1 million barrels per day (bpd) of Urals, KEBCO and Siberian Light crude in September, up from some 1.8 million bpd in August, the data showed.
Russian Deputy Prime Minister Alexander Novak said on Wednesday that Russia would cut oil exports by 300,000 barrels per day in September from the average level in May and June, while the country has fully met its obligations to reduce supply in August.
Russia increased seaborne oil exports from its western ports in May to a four-year high to meet Asian demand for low-priced oil.
Source: Hellenic Shipping News
