Oil shipments from Russia’s western ports in the first half of August fell by about 15% from planned volumes. The reason was disruptions at the port of Novorossiysk following Ukrainian attacks.
This is reported by Reuters.
In the first half of August, export loadings amounted to about 2.3 million barrels per day. At the same time, the plan called for exports of roughly 2.7 million barrels per day from the Baltic ports of Primorsk and Ust-Luga, as well as Novorossiysk.
The biggest drop was recorded in Novorossiysk. According to traders, exports from there, including Russia’s Urals crude and Kazakhstan’s KEBCO, fell to about 400,000 barrels per day. In June and July, this figure was around 800,000 to 1 million barrels per day.
Oil loadings are running more than two weeks behind schedule. Some cargoes that were planned for export back in late July were only shipped in recent days.
- In July, Turkey reduced purchases of Russian oil and, according to forecasts, will cut them even further in August.