Supply reached 155,000 barrels per day (bpd) in June alone, compared to less than 30,000 bpd before the start of the special operation, the highest since at least 2016, according to Vortexa, an analytics firm.
Record volumes of fuel oil, diesel fuel and other oil products from Russia are sent to the countries of the Middle East against the backdrop of the gradual withdrawal of the European Union from Russian energy resources. This was reported by Bloomberg on Wednesday.
The flow of Russian oil products to the Middle East began to increase since February this year after the start of the Russian special operation in Ukraine. Supply reached 155,000 barrels per day (bpd) in June alone, compared to less than 30,000 bpd before the start of the special operation, the highest since at least 2016, according to Vortexa, an analytics firm. Experts expect that imports to the countries of the Middle East from Russia will soon break the record fixed last month and exceed 220,000 bpd.
It is noted that more than a third of deliveries are accounted for by the large oil terminal of the UAE, located in the port of Fujairah.
“It is likely that by the end of the year [diesel fuel] supplies from Russia to this region will increase,” said Turner, Mason & Company analyst Jonathan Leitch.
A significant portion of Middle East imports from Russia is fuel oil, a residual product of oil refining that is often used to generate electricity. According to Vortexa, deliveries from Russia also include gasoline, jet fuel (jet fuel), diesel fuel and a number of other petroleum products.
According to Cohen Wessels, an analyst at the consulting firm Energy Aspects, “tracking the further movement of Russian energy carriers after their unloading in Fujairah is not easy.” He suggested that the volume of oil products exported from the Russian Federation could decrease only if there are problems with transport risk insurance, since Russia will have to rely mainly on its own fleet for transporting goods.
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