Russian offline primary oil refining capacity is seen rising by 40% in August from July to 3.601 million tons, Reuters calculations showed on Wednesday, further complicating Russia’s efforts to cut oil exports.

An increase in idle oil refining capacity usually incentivizes exports.

Deputy Prime Minister Alexander Novak announced last week that Russia would cut oil exports by 500,000 barrels per day in August amid weak global oil prices.
Source: Reuters (Reporting by Reuters, Editing by Louise Heavens)