Exclusive Russia Report: Russian product exports – short & long-term trends & challenges
In this Exclusive Russia report, we focus on product exports, including the short-term challenges amidst Ukrainian drone attacks on crude refineries, what to take away from the record amount of Russian product at sea, and review the overall reallocation of product flows a year after European sanctions have been fully implemented.
04 April, 2024
Key report takeaways:
- Review of latest trends in Russian oil exports with a focus on products
- Gasoil/diesel exports are inevitably set to fall
- This is already a function of seasonal maintenance and rising domestic demand
- Ukrainian drone attacks may aggravate the situation, but this is not a given on a year-on-year basis
- A lot of Russian product is stuck at sea currently
- Most pronounced for gasoil/diesel and Baltic exports
- Increased scrutiny and awareness of sanctions may be a contributing factor
- Review of long-term adjustments in Russian product exports and European (US) products flows
- Look at diesel, light distillates, residual fuels
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