Anti-record: in March, russian federation exported a maximum of oil products by sea

Sea exports of petroleum products from russian federation reached their maximum since the beginning of the full-scale war. In March, supplies amounted to 3.1-3.2 million barrels per day.

In March 2023, the export of oil products from russia reached the maximum since the beginning of the full-scale invasion of Ukraine. As a result of the growth of sea exports, supplies are 3.1-3.2 million barrels per day (b/d), writes Enkorr.

It is now just over 3 million b/d, based on March 1-23 shipping data, compared with 2.5 million b/d in February.

Shipments from the Black Sea rose 50% this month to 1.2 million b/d after February storms halted activity for several days.

So, russian products are bought in Asia, the Middle East and Africa, and several shipments have crossed the Atlantic.

At the same time, about 650,000 b/d of products loaded in March are at sea without a destination. Given the long and expensive flights, this surplus raises the question of how long russia will be able to maintain such high levels of exports.

The average export volume for the first quarter of 2023 should reach 2.9 million b/d, which is 150 thousand b/d more than in 2022 and 50 thousand b/d in 2021.

Marine exports at the level of 3 million b/d for the first 23 days of March are 380,000 b/d higher than last year’s average.

Exports of diesel fuel, according to official data from Energy Intelligence, average 745,000 b/d this year, which is almost 50,000 b/d more than the average for 2022.

Russian fuel oil exports averaged 612,000 b/d in January-February, according to official data, which is 40,000 b/d more than in 2022.