Russian fuel exports soaring
Russian fuel exports rebounded in November following the easing of export restrictions and the end of the refinery maintenance season, Bloomberg reported this week, citing ship-tracking data from Vortexa.
Shipments of refined fuel surged to 2.2 million barrels per day (bpd) last month, rising by about 164,000 bpd compared to October, when supplies dropped to a three-year low, data showed.
Diesel and gasoil exports rose by 12% month-on-month in November, reaching a three-month high of 894,000 bpd after Moscow eased fuel export restrictions. The bulk of cargos headed to Africa and South America, particularly Brazil, according to Vortexa.
Meanwhile, Russia’s four-week average seaborne crude exports had declined to their lowest level in three months as of December 3, after storms in the Black Sea disrupted shipments. However, exports of oil products rose last month due to increased supplies of diesel and gasoline, the outlet said.
Fuel oil deliveries grew by about 4% to 727,000 bpd, while flows of refinery feedstocks such as vacuum gasoil jumped to a six-month high of around 149,000 bpd.
December exports of Russian diesel from Black and Baltic Sea ports are expected to reach the highest volumes since July, analysts have predicted.
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