MOSCOW (Reuters) – Russia’s planned oil loadings from its western ports are set to decline 6% in December from November to 1.9 million barrels per day (bpd), market sources said and Reuters calculations showed.
Russia’s oil shipments from its western ports of Primorsk, Ust-Luga and Novorossiisk are set to be lower in December amid record refinery runs planned for next month and a recent lifting of the state’s fuel export ban, traders said.
Actual oil loadings from Russia’s western ports are likely to be above the plan in December as significant volumes meant to be loaded in November will be carried over because of storms in the Black Sea region, traders said.
Severe storms have disrupted up to 2 million bpd of oil exports from Kazakhstan and Russia since last Friday.
The delay in oil exports and transit from Novorossiisk port for November exceeded 1 million metric tons as of Wednesday. The port remained shut on Thursday, traders said, so these volumes have to be carried over to December.
Oil producers are seeking to redirect December oil flows from Novorossiisk to other export destinations, in particular to Russia’s Baltic ports and the Druzhba pipeline.
It was not clear if redirection of flows in December will result in changes to the overall export plan.
Russia does not disclose its ports’ planned export volumes.
(Reporting by Reuters; Editing by Sharon Singleton and David Goodman)
