Russia's Western Port Crude Exports Seen Falling in November

· Oil & Gas · Russia

Russia's crude exports from its western ports could fall by as much as 200,000 barrels per day in November as refiners increase diesel production under Moscow's new agreement with Washington, according to preliminary loading schedules cited by Reuters. Two traders expect shipments from Russia's Baltic and Black Sea terminals to decline. The shift diverts Russian volumes from crude exports toward refined diesel output, at a time when the global diesel market is described as very tight. The immediate effect is less Russian crude on seaborne markets and potentially more diesel supply, a rebalancing that traders in both crude and products will be tracking closely.

Why it matters：Russia redirecting exports from crude to refined products reshapes trade flows in two markets at once, affecting refiners and buyers far beyond Russia's borders.

Key points

  • Exports from Baltic and Black Sea terminals could fall by up to 200,000 bpd
  • The shift follows Moscow's new agreement with Washington
  • The schedules cited are preliminary

Sources (original reporting)

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