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Russia expected to raise oil exports via Baltics in Q4

By Reuters

<div> <p><span class="caps">MOSCOW</span> – Russia is expected to increasing its Urals oil exports via Baltic Sea ports in October-December due to likely higher output and a seasonal decline in domestic output of oil products, a schedule and Reuters calculations showed on Tuesday.</p> <p>Overall Russian oil exports are expected to rise by 2.1% in the fourth quarter from the previous three months.</p> <p><span class="caps">OPEC</span>+, a group of leading oil producers including Russia, has been raising its output as easing pandemic restrictions bolster demand.</p> <p>According to the export schedule, Russia is set to boost Urals exports via the Baltic Sea ports of Primorsk and Ust-Luga by more than 16% in the fourth quarter versus July-September to 18.7 million tonnes.</p> <p>Supplies of Urals and Siberian Light blends from the Black Sea port of Novorossiisk are seen unchanged at 6.1 million tonnes on expectations for unfavourable weather.</p> <p>Russian oil and condensate output edged up to 10.68 million barrels per day (bpd) for Sept. 1-13 from an average of 10.43 million bpd in August.</p> <p/> </div>