According to journalists, this situation arose after a temporary ban on the supply of diesel fuel and seasonal maintenance limited oil refining activities.
Exports of petroleum products from Russia fell to the lowest level in 17 months. Thus, it decreased to 2.2 million barrels per day in the first 28 days of October. Bloomberg writes about this.
According to journalists, this is the lowest figure since May 2022 and is about 3% less than in September and a year ago. This occurred following a temporary ban on diesel supplies and limited refinery operations for seasonal maintenance. For this reason, Russian oil refineries have not yet completed planned maintenance.
Russia’s exports are reportedly being closely scrutinized by oil market participants as Moscow has stopped publishing official production data.
Diesel exports continued to fall to 372,000 barrels per day. Despite the Russian government lifting the temporary export ban on October 6, flows remained limited. Russia allowed supplies to continue, provided the fuel is delivered to ports by pipeline and refineries allocate at least 50% of diesel production to the domestic market.
It was previously reported in the media that EU countries spent a total of 5.51 billion euros in 2023 on the purchase of liquefied natural gas from the Russian Federation. The largest importer of LNG from Russia is Spain, followed by France and Belgium. Thus, about 27% of the LNG imported by Spain came from the Russian Federation, and Belgium received much more – 37%. Meanwhile, 15 percent of the LNG coming from Russia was delivered to France.
Source: Focus
John Holton is a seasoned author and journalist, known for his expertise in economics. He currently works as a writer at 24 news breaker, where he provides readers with in-depth analysis and commentary on the latest economic developments. With a background in finance and a talent for explaining complex economic concepts in a clear and accessible way, John’s writing is a must-read for anyone interested in staying informed about the economy.