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Market Chatter: Russia Lifts Western Oil Exports to 2.5 Million b/d as Refining Capacity Shrinks

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Russia increased crude exports through its western ports by 15% in May to 2.5 million barrels per day, the highest level since September 2025, Reuters reported Tuesday, citing two industry sources familiar with the data.

Shipments from Primorsk, Ust-Luga, and Novorossiysk climbed from 2.2 million barrels per day in April as refinery disruptions prompted Moscow to divert more crude into export markets, according to industry sources.

Ukrainian drone attacks have intensified this spring, hitting refineries, export infrastructure, pipelines, and pumping stations, contributing to lower Russian oil production and fuel shortages, the report said.

The May export increase marked the strongest western-port crude flow in eight months and mirrored conditions seen in September 2025, when earlier drone attacks also curtailed refinery processing, according to the report.

Authorities have responded by banning jet fuel exports and preparing measures to reduce gasoline and diesel shipments to preserve domestic fuel supplies.

Industry sources said higher crude exports have helped Russia avoid deeper production cuts, although limited export capacity at western ports restricts the amount of unprocessed oil the country can move abroad.

Despite continued attacks on Novorossiysk that temporarily disrupted loadings, and further strikes targeting Transneft infrastructure last month, Russia still raised western crude exports throughout May, according to the report.

Russia's Ministry of Energy didn't 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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