Russia¡¯s oil processing in the past week remained close to its highest daily refining runs in more than eight months amid decreased seaborne exports. The nation¡¯s refineries processed around 5.65 million barrels of crude a day from Dec. 14 to Dec. 20, according to a person with knowledge of the matter.
Where is Russia’s oil refinery located?
The Novokuibyshevsk oil refinery plant, operated by Rosneft PJSC, in Novokuibyshevsk, Russia. Russia¡¯s oil processing in the past week remained close to its highest daily refining runs in more than eight months amid decreased seaborne exports.
Why are Russia’s refinery runs scrutinized by oil market watchers?
Russia¡¯s refinery runs are scrutinized by oil market watchers as it¡¯s one of the key remaining gauges ¡ª alongside seaborne crude exports ¡ª to follow trends in the nation¡¯s production after the government classified official output data amid international sanctions.
How much crude is refining a day in Russia?
Russian daily crude refining in the first 20 days of December averaged around 5.57 million barrels a day, up almost 60,000 barrels a day on most of November, according to Bloomberg calculations based on historic data.