Flows of refined fuel from Russia increased in September, as increased shipments of diesel fuel and fuel oil helped increase exports from the multi-year low observed in the previous month, the Bloomberg news agency reports.
According to data compiled by Bloomberg, Russia's exports of petroleum products rose to about 2.1 million barrels per day last month. This is 9% higher than the volumes in August when shipments fell to almost the lowest monthly volumes in recent years.
According to Bloomberg, Russia's seaborne oil exports are one of the indicators that industry watchers look at for clues on the nation's crude production, as it has classified official production data.
Russia's oil production fell below the OPEC+ target level in September. Meanwhile, the four-week average of crude oil flows rose to 3.26 million barrels per day in the week ended 29 September, Bloomberg wrote.
According to the news agency, fuel outflows remained lackluster in September with only a marginal increase, mainly in diesel and dirty fuel shipments. Naphtha exports fell. Seasonal refinery maintenance in Russia in recent months has reduced fuel output, limiting the products available for export.
Diesel and gasoil exports rose 9% from the previous month to about 792,000 barrels per day. This is little changed from the same time last year, when Russia banned diesel exports to stabilize domestic retail prices. Shipments to Brazil rose to a three-month high in September.
Naphtha exports fell 2% from August to about 376,000 barrels per day. Shipments to Africa - primarily Libya and Togo - increased, while shipments to all other regions decreased.
Exports of gasoline and blending components increased to 72,000 barrels per day and exports of jet fuel totaled 38,000 barrels per day.
Shipments of fuel oil increased in September by 8% from the previous month to 726,000 barrels per day, the highest level this year. Shipments of refinery feedstocks such as vacuum gasoil rose 41% last month to 139,000 barrels per day.
