Oil loadings from Russia’s Black Sea port of Novorossiisk will rise to 2.82 million tonnes in May from 2.66 million tonnes planned in April, two sources familiar with the loading plan said.

The exports planned are the highest since October last year, Reuters data showed.

On a daily basis, Novorossiisk’s combined May exports of Urals, Siberian Light and KEBCO oil grades will rise by almost 3% from April, Reuters calculations showed.

The rise in loadings from Novorossiisk coincides with the peak of spring maintenance at Russian oil refineries, which reduces domestic demand for crude.

Russia’s offline primary oil refining capacity is expected to rise by 1.9 million tonnes in May from April to 4.4 million tonnes.
Source: Reuters (Reporting by Reuters Editing by David Goodman and Barbara Lewis)