Russia Black Sea Oil Flows Declining as Baltic Cargoes Gain
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Russia is poised to cut crude exports from the biggest oil port near Crimea next month while shipping more in the Baltic Sea about 1,000 miles (1,600 kilometers) away.
Cargoes will leave the Black Sea port of Novorossiisk at about 620,000 barrels a day in April, the lowest rate since at least 2008, according to loading programs obtained today by Bloomberg News. Daily shipments from Primorsk in the Baltic will average 1 million barrels, the most since November. Igor Dyomin, a spokesman for OAO Transneft, Russia’s pipeline operator, declined to comment.