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RUSSIA'S OIL LOADINGS FROM WESTERN PORTS TO DECLINE 6% IN DECEMBER

Russia's planned oil loadings from its western ports are set to decline 6% in December from November to 1.9 million barrels per day (bpd). Russia's oil shipments from its western ports of Primorsk, Ust-Luga and Novorossiisk are set to be lower in December amid record refinery runs planned for next month and a recent lifting of the state's fuel export ban.

Actual oil loadings from Russia's western ports are likely to be above the plan in December as significant volumes meant to be loaded in November will be carried over because of storms in the Black Sea region. Severe storms have disrupted up to 2 million bpd of oil exports from Kazakhstan and Russia since last Friday. The delay in oil exports and transit from Novorossiisk port for November exceeded 1 million metric tons as of Wednesday. The port remained shut on Thursday, traders said, so these volumes have to be carried over to December.

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