Russia's offline primary oil refining capacity seen rising in May

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, April 28 (Reuters) - Russia's offline primary oil refining capacity is expected to rise by 1.9 million tonnes in May from April to 4.4 million tonnes, industry sources said and Reuters calculations showed on Friday. The rise in offline refining capacity usually leads to an increase in available crude oil volumes and a boost in exports. At the same time, the idle primary oil refining capacity has been revised down by 700,000 tonnes this month from the previous plan to 2.476 million tonnes due to delay or cancellation of maintenances. This is sill more than 1.374 tonnes in March. In April, oil loadings from Russia's western ports are set to rise to the highest since 2019, above 2.4 million barrels per day (bpd), despite Moscow's pledge to cut output, according to trading and shipping sources. (Reporting by Reuters; Editing by Emelia Sithole-Matarise)
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