Urals exports surge in 1H

摘要

Seaborne Urals exports of 1.39mn b/d (35.01mn t) in the frst half of 2021 were around a third higher than in July-December, but nearly a ffth lower on the year. The year-on-year decline refects crude output restraint under the latest Opec+ agreement, which was implemented from May 2020. The rise — compared with the second half of last year — is a result of the gradual easing of produc- tion restrictions, as well as reduced pipeline crude supplies through the Druzhba system to destinations in central and eastern Europe.