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OIL MARKETS

Russia Poised to Ship More Barrels Abroad in Fourth Quarter

Copyright © 2021 Energy Intelligence Group
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  • Russia has scheduled an increase in crude oil shipments abroad during the last three months of 2021 as output is poised to rise and domestic demand weaken.
  • The gain in exports will be in seaborne shipments, while pipeline shipments will drop in October–December as Poland reduces its offtake from Russia.
  • Rosneft has awarded six-month offload contracts after holding a regularly scheduled tender.

Total crude oil exports from Russia to countries outside the former Soviet Union are penciled in at 4.49 million barrels per day (56.42 million metric tons) for October–December, up by 137,300 b/d from the July-September export program, quarterly export schedules from the energy ministry show.

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