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Russia Oil Exports Hit 3-Month High Amid Shifting Flows
8 Oct
Summary
- Russian oil product shipments reached a three-month high in September.
- Diesel exports declined due to a government-imposed export ban.
- Fuel oil and other products compensated for diesel's weaker flows.
In September, Russia's seaborne refined-product exports achieved a notable increase, reaching their highest level in three months. Approximately 1.17 million barrels per day were shipped, indicating a robust performance in overall exports.
This expansion occurred even as diesel shipments experienced a substantial downturn. The decline in diesel exports was a direct consequence of a recent government-imposed export ban aimed at regulating domestic supply. However, the impact of this ban on overall export volumes was mitigated.
Stronger flows of fuel oil and other refined petroleum products more than compensated for the reduced diesel volumes. This dynamic demonstrates a significant shift in Russia's export composition for the month, with alternative products stepping in to maintain high shipment levels.
