12:46 - 18.07.2023

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July 18, Fineko/abc.az. Russia is reducing its export schedule for August as part of voluntary reduction in oil exports, ABC.AZ reports with reference to the Russian Ministry of Energy.

The decrease in oil transportation via pipelines outside Russia will be about 2.1 million tons in the 3rd quarter of 2023.

"Russia lowers the export schedule for August as part of voluntary reduction in oil exports. In accord with the decision on the voluntary reduction of oil exports by the Russian Federation in August 2023 by 500,000 b/d, the schedule of oil transportation via trunk pipelines outside Russia in shipping directions for Q3 of 2023 will be cut in the amount of about 2.1 million tons, which corresponds to the designated level of export reduction for August," the Ministry says.

The MoE noted that at that, the reduction in the export schedule will affect both shipments to the seaports of Russia (Novorossiysk, Primorsk, Ust-Luga) and pipeline deliveries.