Russian Urals oil loadings from the Baltic port remain steady at 1.4 million metric tons for the period of April 1-6, consistent with the previous month’s figures, as reported by two trading sources referencing the preliminary schedule. While loadings for the entire month of April are yet to be finalized, traders are anticipating varying estimates for Russian oil exports from the country’s western terminals due to agreed OPEC+ production cuts and potential disruptions from refinery outages. Following Ukrainian drone attacks in the first quarter, approximately 4.6 million tons of Russian oil refining capacity were temporarily halted, equating to around 7% of the total capacity, in addition to routine maintenance shutdowns. As part of coordinated efforts with OPEC+ members, Russia plans to reduce its oil output and exports by an extra 471,000 barrels per day in the second quarter to align with production agreements.
Russia Maintains Stable Urals Oil Exports from Baltic Port for April 1-6