Russian oil exports down in September

Russian gas oil exports flowing from Baltic and Black Sea ports fell to 505,000 barrels per day in September, 45,000 bpd or 8.1 percent down from August's total of 550,000 bpd, a leading industry analyst said on Wednesday. Geneva-based Petrologistics said Russia's seaborne fuel oil exports had risen by 30,000 bpd to 680,000 bpd in September as traders rushed to move vessels ahead of Russian export curbs which took effect from October 1. Exports of jet fuel oil and light products, principally gasoline and naphtha, rose by 20,000 bpd to 125,000 bpd. This left total Russian seaborne exports of oil products steady at 1.31 million bpd. However, a sharp decline is expected in October export flows both for seasonal reasons and government restrictions. "I can already see a big dip (in exports of oil products) this month, partly due to high winds and sea swells at Black Sea and Baltic ports, but also because less material is available," said Petrologistics president Conrad Gerber. "I can already see a quiet appreciable drop," he said, predicting a fall of at least 100,000 bpd in fuel oil exports, "or more likely 200,000 bpd." - Reuters reports.

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Author`s name: Editorial Team