Ministry issues product forecast

摘要

Russian product exports will hit 135.1mn t this year, up from 132.4mn t in 2011, according to a forecast pub- lished by the economic development ministry last week. The increase in loadings reflects higher product output. The ministry has also put together two separate forecasts for the longer- term outlook for product exports. These are based on "optimistic" and "pessimistic" scenarios. The former assumes that global crude prices will remain at their current high level and that the average processing depth at Russia's refineries will increase to 74pc from the present 71pc.