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Market Chatter: Oil Exports at Russia's Western Ports Decline Amid Disruption

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Russia's oil exports from its western ports averaged 2.3 million barrels per day in the first half of August, down 15% from the initial plan of 2.7 mmbbls/d, due to loading delays of more than two weeks linked to lack Sea disruption, Reuters reported Wednesday, citing traders.

Ukraine has recently intensified attacks on Russian energy infrastructure and has targeted vessels in the Black Sea, resulting in a supply shortfall and export delays.

The lower exports were recorded in the Primorsk and Ust-Luga ports in the Baltic Sea, and the Novorossiysk port in the Black Sea. From Novorossiysk, oil shipments have recently declined to about 400,000 barrels per day, from June and July levels of 800,000 b/d to 1 mmbbls/d, according to the report.

The Russian energy ministry did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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