Oil loadings from Russia’s Western ports in May are seen falling to 8.5 million metric tons from some 9.5 million in April, broadly in line with market expectations, industry sources told Reuters on Monday.
Russia’s domestic oil plants return from seasonal and unplanned turnarounds, while oil output should fall in line with Moscow’s pledges to OPEC, they added.
Urals and KEBCO oil loadings from Russia’s Baltic ports of Primorsk and Ust-Luga in May are seen at 3.4 million and 2.8 million tons, while the Black Sea port of Novorossiisk plans to load 2.3 million tons of Urals, KEBCO and Siberian Light crudes.
Rosneft’s export-oriented Tuapse oil refinery, one of largest in southern Russia, has resumed oil processing, two industry sources told Reuters last week, after the plant was damaged by fire in January.
A drone attack at Lukoil’s Volgograd refinery had no immediate impact on Russia’s May loading plans, two market sources said on Monday.
That refinery was partly shut down after being hit in a drone attack on Sunday.