Russia Cuts June Oil Exports to Boost Refinery Runs
Russia will cut June crude exports to 1.7 million bpd to boost refinery runs. The shift addresses fuel shortages and falling output after recent outages.
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Russia will reduce crude oil exports from western ports to 1.7 million bpd in June, a 32% decline from May levels. Preliminary data from industry and trading sources show loadings at Primorsk, Ust-Luga, and Novorossiysk falling from 2.5 million bpd. Market sources said the reduction stems from plans to boost domestic refinery runs to address regional fuel shortages.
