Russian Seaborne Exports Poised to Rise in September

Copyright © 2021 Energy Intelligence Group

• Russian seaborne oil exports are poised to rise slightly in September as the country begins to produce more barrels under the Opec-plus deal.

• Domestic demand for oil products is growing, keeping more crude at home, but this will be balanced by a hefty refinery maintenance season.

Crude oil exports from Russia's major ports, excluding transshipments of Kazakh, Turkmen and Azerbaijani barrels, are penciled in at 1.918 million barrels per day in September, up by roughly 40,000 b/d from the August plan, preliminary loading programs issued by pipeline operator Transneft show. Total exports, including transit volumes, are seen rising by 25,000 b/d on the month to 2.222 million b/d.

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