Russian crude exports slip as refining ramps up.

摘要

According to data from CDU-TEK, a part of the Russian Energy Ministry, crude production in the country increased by 1 on the year in HI 2014, while crude exports actually fell by 5.3 to 4.95MM b/d-the lowest level since Bloomberg began tracking the numbers in 2008. According to analysis from KBC Energy Economics, JBC Energy, and investment bank UralSib Financial, this was due to reduced maintenance by Russia's refiners in HI, with 15 less capacity being taken offline for work than in the corresponding period a year ago. "Russian refinery crude intake was growing strongly in the first half of the year, as the spring refining maintenance was very mild," said JBC's David Wech. "This explains the decline in crude oil exports". Crude export figures include volumes from FSU states, excluding Kazakh oil exported by rail or via the Caspian Pipeline Consortium.