Russian Crude Exports Drop to Lowest Since May
Russian Crude Exports Drop to Lowest Since May Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector.
Her… Russia’s seaborne crude exports fell to their lowest level since May as recovering refinery runs pulled barrels back into domestic processing and attacks disrupted loading at key ports.
Russia shipped 3.71 million barrels per day in the four weeks through August 9, according to vessel-tracking data compiled by Bloomberg.
Shipments averaged just 3.25 million bpd in the latest week, down from 3.5 million bpd a week earlier.
The drop comes just days after industry sources said Russiancrude and condensate productionrose by roughly 100,000 bpd in July to more than 9 million bpd, helped by stronger exports and a recovery in refinery throughput.
Refineries got a brief break from Ukrainian attacks in the second half of July, allowing operators to make repairs and increase processing.
More crude went into refineries instead of tankers.
Ukraine shifted some attacks toward Black Sea tankers and storage facilities during that lull.
Novorossiysk, one of Russia’s main Black Sea export outlets, has recently operated at roughly half its peak crude-loading rate after attacks on tankers near the port.
Turkey also temporarily restricted some Black Sea traffic.
Baltic loadings at Ust-Luga were running at about half the level seen two weeks earlier.
Ukraine hit five Russian refineries during the first week of August and another two this week, raising the prospect that more crude could again be displaced from processing into exports.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment