Oil exports from Russia in may falls by 25%
The average daily export of oil from Russia in the first 20 days of may declined by 25% compared to the same period of April to 428 thousand tonnes, while exports by sea transport fell by 33% to 237 thousand tons, the supply of pipeline transport fell by 13% to 192 thousand tons per day, the statistics, which read “Interfax”.
Under the deal, OPEC+ Russia needs to reduce production in may to 8.5 million b/d, a decrease compared to April of approximately 18% exclusively on oil. According to statistics, during the 20 days of may, production of oil with gas condensate in Russia has decreased almost on 17% – to 1284,5 thousand tons per day (t/c), and production solely of oil, while maintaining the extraction of the condensate at the level of the first quarter, may be about to 8.65 million b/d (taking into account the ratio of 7.33 barrels).
Taking into account the resources of other countries oil export on system “Transneft (MCX:TRNF_p)” (MOEX: TRNF) has decreased by 24% to 477 thousand tons, a decrease of exports by sea transport fell by 31% to 282 thousand tons via pipelines 12% d 195 kt/C.