Oil Supplies From Russia’s Novorossiisk Seen Down 19.4% in 2020

OILMONSTER.COM- Crude oil supplies from the Russian Black Sea port of Novorossiisk are set to decline by 19.4% this year to 25 million tonnes (500,000 barrels per day), according to a chart in an in-house magazine of oil pipeline monopoly Transneft.

The chart also shows that oil products handled at the port will decline to 19.2 million tonnes this year from 21.1 million tonnes in 2019.

Transneft said earlier on Tuesday its total oil shipments were down 16.7% year-on-year to 105.6 million tonnes in the third quarter due to a global deal to reduce oil output.

Courtesy: www.reuters.com