Oil loadings from Russia’s western ports over April 1-8 are set to rise by around 90,000 barrels per day (bpd) versus the same period in March to reach some 1.7 million bpd, the data provided by trade sources and Reuters calculations showed.

Exports and transit of Urals, KEBCO and Siberian Light oil grades from Primorsk, Ust-Luga and Novorossiisk in the first 8 days of April will rise by 6% on a daily basis from March 1-8, Reuters calculations showed.

Russia’s daily oil exports from its western ports are set to rise by some 100,000 barrels per day to 1.97 million bpd in April from March as the domestic refinery maintenance season starts outweighing output cuts under an OPEC+ agreement, Reuters calculations based on data from three sources showed.

Some market sources still believe that Russia’s oil export in April could fall below March levels, as some refineries get fixed after drone attacks in February and March, meaning more crude will be earmarked for domestic oil plants ahead of peak seasonal demand for motor fuels.

Russia’s projected total offline primary oil refining capacity in April may fall by some 320,000 bpd to 2.137 million metric tons from 3.58 million tons in March, Reuters calculations based on data from LSEG and sources showed.
Source: Reuters