02/ 23 Closing Prices / revised 02/23/2024 21:59  GMT 02/22   OPEC Basket  82.90 + 0.91  | 02/23    Mexico Basket (MME)   $72. 22 -2.05 | 01/13    Venezuela Basket (Merey)  $66.50  +1.30   | 02/23     NYMEX WTI Texas Intermediate April  CLJ24   $76.49 -2.12 | 02/23    ICE Brent April BRNJ24     $81.62 -2.05 | 02/23     NYMEX Gasoline March  RBH24   $2.28  -2.5% |  02/23    NYMEX  Heating Oil March  HOH24   $2.69   -2.3%   | 02/23    Natural Gas March NGH24    $1.60  -7.5% | 02/23    Active U.S. Rig Count (Oil & Gas)    626   +5  | 02/23    USD/MXN Mexican Peso  17.1166  (data live  | 02/23     EUR/USD    1.0821  (data live)  | 02/23    US/Bs. (Bolivar)   $36.06980000  ( data BCV)  

Russian Fuel Exports Hit Eight-Month High – Bloomberg

Fuel oil exports jumped, with more going to Africa and Asia. Weekly diesel/gasoil flows eased to lowest in three weeks.

Prejula Prem, Bloomberg News

EnergiesNet.com 01 05 2024

Russia’s oil-product exports climbed to the highest since April on a four-week average basis, buoyed by a sharp rebound in fuel oil shipments.

Refined fuel flows averaged almost 2.7 million barrels a day in the four weeks to Dec. 31, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. That’s about 152,000 barrels, or 6%, higher than the previous week.

The more volatile weekly flows rose slightly to 2.6 million barrels a day in the last week of December, even as diesel flows ebbed. Russian refinery rates were underwhelming last month, hampering the export of some key oil products.

The oil market is closely monitoring Russian oil flows to asses production since Moscow stopped releasing official output data. The country has pledged to cut exports by 300,000 barrels a day for crude and by 200,000 barrels a day for oil products in the first quarter, compared with the May-June 2023 baseline.

Here’s a breakdown of shipments from Russian ports for the week to Dec. 31: 

Diesel and gasoil exports fell roughly 4% from the previous week to a three-week low of 1.14 million barrels a day. Still, December’s total — at about 1.17m barrels a day — marked last year’s best month, helped by the easing of road fuel restrictions and as Black Sea ports recovered from storms.

The energy ministry is yet to fully remove all restrictions on winter-grade diesel exports. Shipments are allowed for fuels delivered to ports by pipeline and refiners need to keep at least 50% of their output at home. The nation plans to boost diesel flows by almost a fifth this month.

Naphtha shipments rebounded 23% to 326,000 barrels a day. Gasoline and blending component exports more than tripled to 157,000 barrels a day. No jet fuel shipments were observed for the week.

Fuel oil flows jumped by 64% to about 772,000 barrels a day, as shipments to Asia and Africa rebounded. Exports of refinery feedstocks like vacuum gasoil more than halved to 199,000 barrels a day.

Cargo volumes and destinations are likely to be revised if more port data or vessel information becomes available.

bloomberg,com 01 05 2024

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com

CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

Scroll to Top