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Oil Trade


OPEC Monthly Oil Market Report – November 2017


In September,

total crude oil exports

from the

Former Soviet Union

(FSU) dropped by 268 tb/d, or 4%, to

average 6.5 mb/d, while

Russian crude exports

dropped by a slight 23 tb/d, or 1%, to average 4.1 mb/d.

Total shipments from the

Black Sea

dropped, with shipments from Novorossiysk down by 120 tb/d, or 19%,

to average 511 tb/d.

Total Baltic Sea

exports rose by 166 tb/d in September, as shipments from both the Primorsk and the Ust

Luga port terminals increased by 122 tb/d and 44 tb/d, respectively.

Druzhba pipeline

total shipments increased by 60 tb/d to average 1.1 mb/d in September.

Exports through the

Lukoil system

all declined from the previous month. In the

Barents Sea

, the Varandey

offshore platform showed a drop of 46 tb/d, while in the

Baltic Sea

, the Kalinigrad port terminal showed

slight decline of 3 tb/d.

Other routes

showed mixed performances in September from a month earlier:

Russian Fareast



were less by 106 tb/d, or 33%, from the previous month as a result of a drop in exports from the de

Kastri port terminal by 160 tb/d. This drop was offset by an increase from the Aniva bay port terminal, which

increased its exports by 55 tb/d from a month before to average 149 tb/d.

Central Asian

total exports


at 253 tb/d, up by 10 tb/d.

FSU total product exports

showed minor changes from the previous month to average 2.6 mb/d. Despite

stable average volumes, product exports saw declines in exports of gasoline and fuel oil, while exports of

naphtha and VGO increased by 74 tb/d and 63 tb/d, respectively.