Russian oil exports in January-April 2022 declined by 0.6% to 66.3 million tonnes
The problem of some oil products excess has aggravated sharply
In January-April 2022, exports of Russian oil decreased by 0.6% to 66.3 million tonnes, according to the analytical report of the Institute for Natural Monopolies Research (IPEM).
Oil production in April 2022 fell by 4.0% to 41.1 million tonnes.
Relatively small reduction of production is aggravated by the ‘low base’ of the last year April. The Ministry of Energy has announced its plans to increase output in May versus April. It should be separately emphasized that April saw the aggravation of some oil products excess, especially heavy fuel oil, due to drastic reduction of export opportunities. That threatens with possible suspension of operation at some refineries as well as reduction of oil production, says IPEM.
