Russia's oil loadings from western ports to decline 6% in December - sources, Reuters (updated)

Novorossiysk Commercial Sea Port PAO

30/11/2023 13:41

(Adds detail)
       MOSCOW, Nov 30 (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
)