Russia's average daily oil output has dropped to a three year-low after con...
MOSCOW - Russia’s average daily oil output has dropped to a three year-low after contaminated crude clogged its main export route.
The figure for the first three days of June is the lowest since mid-2016, according to Reuters calculations. Russia’s oil pipeline monopoly Transneft has promised to supply clean Urals crude to the Polish border on June 9.Russian producers Rosneft and Surgutneftegaz, major suppliers via the route, have been especially hit by the export constraints.
Rosneft managed to load a rare additional ESPO Blend crude cargo in May to ease some of the pressure. In June, Lukoil and Surgutneftegaz received a cargo each. In response, Transneft said its pipeline network had received an extra 2.2 million tonnes of oil in the first five months of this year compared with the same period in 2018, and that Rosneft should “operate by the figures, not emotions”.
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