Russia’s Baltic port oil exports for April 1-6 stable m/m, sources say

Russian Urals oil loadings have been set at 1.4 million metric tons during April 1-6, unchanged from March 1-6, according to two trading sources citing the preliminary schedule.

Urals oil loading plans for the full month of April have yet to emerge, traders said.

Traders have different estimates for Russian oil loadings from the state’s western outlets in April as agreed OPEC+ cuts may balance unplanned refinery outages.

Russian oil refining capacity shut down in the wake of Ukrainian drone attacks in the first quarter amounts to about 4.6 million tons (370,500 barrels per day), or some 7% of the total, Reuters calculations show, on top of maintenance related to other causes.

Russia will cut its oil output and exports by an additional 471,000 barrels per day (bpd) in the second quarter, in coordination with some OPEC+ participating countries.
Source: Reuters (Reporting by Reuters; editing by Jason Neely)