Maritime oil exports from the Russian Federation continue to fall

The Russian Federation is losing sea oil exports due to a “voluntary” reduction in production of the energy carrier.

Oil shipments from western Russian ports will drop by 6% in June. Russian exports were undermined by a reduction in oil production and an increase in the volume of processing for the country’s domestic needs. This is reported by Reuters.

Thus, the volume of shipments of Russian Urals and Kazakh KEBCO from the ports of Primorsk and Ust-Luga in June will amount to 6.5 million tons. For comparison, in May this indicator reached 7.5 million tons.

At the same time, oil exports through Novorossiysk almost did not change – 2.9 million tons in June against 2.8 million tons in May.

Last week, Russian officials said that the Russian Federation “achieved the planned reduction in oil production” by 500,000 barrels per day in May.

In general, oil production in Russia and Belarus may fall by approximately 1.1 million tons in June.

Previously, USM wrote that the Russian Federation wants to ban the export of gasoline due to the shortage of fuel in the domestic market.