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Oil Trade

OPEC Monthly Oil Market Report – August 2017



In June,

total crude oil exports

from the former Soviet Union dropped by 408 tb/d, or 6%, to average

6.8 mb/d. Crude exports through Russian pipelines also declined by 360 tb/d, or 9%, to average 3.9 mb/d.

Total shipments from the

Black Sea

declined by 71 tb/d, or 10%, to average 631 tb/d. This drop follows

lower shipments from the Novorossiysk port terminal. Exports from the

Baltic Sea

were also lower by

233 tb/d in June, mainly due to shipments from the Primorsk port terminal declining by 302 tb/d. Exports from

the Ust Luga port terminal rose by 69 tb/d. Total shipments for the Druzhba pipeline went up by 12 tb/d to

average 986 tb/d, while Kozmino shipments declined by 102 tb/d, or 15%, to average 595 tb/d.

Exports through the Lukoil system showed no significant change from the previous month in the



, rising by 5 tb/d. Exports from the

Baltic Sea

were also stable, averaging 13 tb/d in June.

Total exports for the

Russian Far East

were down by 4 tb/d, or 1%, from the previous month as volumes

from the Aniva Bay port terminal dropped, although this was offset by higher exports from the de Kastri port


Central Asia

total exports dropped by 14 tb/d, to average 275 tb/d through the Kenkiyak-Alashankou.

Baltic Sea

total exports dropped by a slight 2 tb/d.

In the

Mediterranean Sea

, BTC supplies showed a drop of 37 tb/d, or 5%, compared to the previous month

to average 699 tb/d.

In terms of products exports,

FSU total product exports

dropped m-o-m by 81 tb/d, or 3%, to average

3.1 mb/d. This drop came as a result of a decline in fuel oil, naphtha and jet, by 161 tb/d, 25 tb/d and 12 tb/d,