Russian Exports Set for May Hike

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Russian seaborne crude exports from major maritime outlets in May are poised to increase by a hefty 210,000 b/d from the previous month to 1.898 million b/d, port-loading programs issued by Transneft, the nation's oil pipeline operator, show. Including transit volumes from Kazakhstan, Azerbaijan and Turkmenistan, total seaborne exports from Russia have been penciled in at 2.238 million b/d, up by over 200,000 b/d on the month. Russia had planned for a decline in exports -- both by sea and pipeline -- for the second quarter, but seaborne exports have risen so far in April and are now poised to grow in May. Second-quarter export programs were, however, prepared before the Opec-plus decisions to ease production cuts (related).

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