Russia Plans Big on Seaborne Exports in May

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  • Russia intends to keep drafting ambitious export schedules despite outcries about its ongoing war effort in Ukraine.
  • Port loading programs for May are penciled in at just under 2.8 million b/d, down a mere 85,000 b/d from April's preliminary schedule.
  • Rosneft is changing tactics and tendering crude for two months while also trying to get offtakers to pay in rubles.

Russia has put together an ambitious seaborne oil loading program for May, one aiming to show that the increasingly loud calls from the West to cease buying, and even boycotting, the country's barrels are more bark than bite.

Oil Supply, Crude Oil
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