Russia's fuel exports rose in November, averaging 2.2 million barrels per day, according to Bloomberg, citing data from Vortexa.
Oil prices appeared after the end of the diesel export ban and the end of the refinery maintenance season. However, stormy weather in the Black Sea affected export fuel shipments at the end of the month and early December. According to Vortexa, diesel and gasoline exports increased by 12% from October to November, with most of the cargo destined for Africa and South America. Most of the latter part went to Brazil. Gasoline and blend exports rose 25 percent last month to 75,000 barrels per day, but jet fuel exports fell to 8,000 barrels per day. Overseas naphtha shipments also declined, but to a lesser extent, by about 3% to 36 per day20,000 barrels.
Earlier this month, Bloomberg cited industry data showing that Russian diesel exports would rise sharply this month, by about 28%. Part of the increase was due to loading delays due to storms in the Black Sea. According to data compiled by Bloomberg, shipments of Russian diesel from Black Sea and Baltic ports in December will be the highest export volume since July.
In recent weeks, the premium of diesel relative to ** has risen, which has also stimulated the export of diesel. At the end of the summer, Russia announced a temporary ban on the shipment of diesel and gasoline abroad in order to increase the domestic market and lower. Meanwhile, Russia's central bank reported that the country's largest oil and gas exporter's total revenue fell 41% between January and September compared to a year earlier, due to a decline in commodities and exports.
The reorientation of exports and the departure from the dollar in energy** settlements also led to a decline in revenues. (Compiled by Xiao Chen).
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