Russia's May Seaborne Oil Product Exports Down 14.7% m/m -Sources, Reuters Calculations
06.14.2023 By News - NEWS

June 14, 2023 [Reuters]- Russia’s seaborne oil product exports in May fell by 14.7% month on month to 10.034 million tonnes reflecting a peak in seasonal refinery maintenance and rising domestic demand, data from industry sources and Reuters calculations showed.


“Some refineries shifted maintenance to May from April, so oil products exports fell with the production decline,” one trader said.

Idle primary oil refining capacity has been revised up for May by 500,000 tonnes from the previous plan, to 5.0 million tonnes, due to extended maintenance at several refineries, data from industry sources and Reuters calculations showed.

Fuel exports via the Baltic ports of Primorsk, Vysotsk, St. Petersburg and Ust-Luga on a daily basis in May fell by 23.8% month on month to 4.8 million tonnes from 6.1 million tonnes, data from market sources showed.

Oil product exports via Russia’s Black Sea and Azov Sea ports fell by 4.2% to 4.435 million tonnes from 4.48 million in April.

Oil products export loadings at Russia’s Far East ports in May fell by 9% on a daily basis to 700,000 tonnes from 743,800 tonnes in April, data from sources and Reuters calculations showed.

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