Russian seaborn oil product exports down by 1 mln bpd through mid-June – IHS Markit
In February, Russian maritime exports of oil products amounted to just under 3 million b/d, while in June - 1.9 million b/d.
Russia’s seaborn exports of its oil products have declined by more than 1 million barrels per day through mid-June, IHS Markit said in a report seen by TASS.
In February, Russian seaborn oil product exports amounted to a little less than 3 million barrels per day and stood at 1.9 million barrels per day in June. "Bans on Russian oil have reduced product exports but have yet to lower crude oil exports," the report reads.
According to the consultant’s calculations, over the same period, Russian seaborne oil exports increased from 3 million barrels per day in February to about 3.6 million barrels per day in June, with exports to Europe down from 1.9 million barrels per day in January to less than 1.5 million barrels per day in June and to China up from over 0.5 million barrels per day to about 0.7 million barrels per day. Oil product exports to Europe lowered from 2 million barrels per day in January to 1.2 million barrels per day by June, IHS said.
Experts believe that the EU ban on Russian oil will slash its exports by about 2.7 million barrels per day by early 2023. "While some [oil] will be redirected elsewhere, we expect Russian oil production to fall to around 9.0 million barrels per day compared with 11.0 million barrels per day," IHS reported.
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Russia’s seaborn exports of its oil products have declined by more than 1 million barrels per day through mid-June, IHS Markit said in a report seen by TASS.
In February, Russian seaborn oil product exports amounted to a little less than 3 million barrels per day and stood at 1.9 million barrels per day in June. "Bans on Russian oil have reduced product exports but have yet to lower crude oil exports," the report reads.
According to the consultant’s calculations, over the same period, Russian seaborne oil exports increased from 3 million barrels per day in February to about 3.6 million barrels per day in June, with exports to Europe down from 1.9 million barrels per day in January to less than 1.5 million barrels per day in June and to China up from over 0.5 million barrels per day to about 0.7 million barrels per day. Oil product exports to Europe lowered from 2 million barrels per day in January to 1.2 million barrels per day by June, IHS said.
Experts believe that the EU ban on Russian oil will slash its exports by about 2.7 million barrels per day by early 2023. "While some [oil] will be redirected elsewhere, we expect Russian oil production to fall to around 9.0 million barrels per day compared with 11.0 million barrels per day," IHS reported.
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