Russian oil product exports slumped to a post pandemic low in April, as it battles to repair refineries after drone attack, Platts said.

• Seaborne Russian exports of refined products rose slightly in H2 April to average 1.94m b/d.
• The April average is down 360k b/d on Marcha and around 700k b/d down in January when Ukraine began its attacks on refineries.
• Flooding also took the 116k b/d Orsk refinery offline for two weeks in April.
• The last time Russia’s exports were sub 2m b/d was during Covid lockdowns of 2020.
• Diesel exports averaged 737k b/d in April, down 137k b/d. Fuel oil exports were down 147k b/don the month
• Exports of naphtha, gasoline and VGO were down by 72k b/d, 58k b/d and 61k b/d in March respectively.
• The market still expects resilience for Russia’s product exports, with diesel prices and cracks still moving downwards amid muted demand.