Russia’s oil exports have grown Photo: depositphotos
Russia’s exports of petroleum products surged significantly in the first half of November, hitting a nine-month high. This growth was the result of increased refining following the completion of seasonal maintenance, Bloomberg reported on 20 November.
Petroleum product deliveries averaged 2.33 million barrels per day in the first 15 days of the month. This is 409 thousand barrels, or 21%, more than in October. The average daily export volume was the highest since February this year.
The significant increase in exports of petroleum products was made possible by the growth of diesel fuel and naphtha supplies. Thus, exports of diesel fuel and gasoil increased by 23% compared to October, reaching 875 thousand barrels per day, the highest level since July. The main markets for these fuels were Turkey and Asian countries.
Exports of crude oil also increased by 50% to 524 thousand barrels per day, the highest level since March. The main destinations for supplies were Asia, Brazil and the UAE.
In addition, fuel oil exports increased to 711 thousand barrels per day, and vacuum gas oil supplies increased by 9% to 192 thousand barrels per day.
At the same time, exports of jet fuel dropped to 17.2 thousand barrels per day, while supplies of petrol and components recovered to 7.2 thousand barrels per day. In December, Russia plans to lift restrictions on petrol exports.
It is noted that marine exports of crude oil have fallen to their lowest level since September, but oil refining has reached its highest level since the end of August.
These changes in exports are an important indicator for estimating total oil production in Russia, as the country has stopped publishing official oil production data.
