Oil loadings from Russia’s western ports from March 20-31 are expected to surpass 2.5 million barrels per day (bpd) and hit the highest level since April 2022, according to market and trading sources, as well as Reuters calculations.

Russia is set to load some 30.2 million barrels (4.12 million tonnes) of Urals, KEBCO and Siberian Light at the ports of Primorsk, Ust-Luga and Novorossiisk from March 20-31 amid top ups to the original loading plan, the data provided by market sources and Reuters calculations showed.

Russia will increase oil exports through its western ports by 13% in March after a fall in processing at refineries hit by Ukrainian drones, two trade sources said on Tuesday.

Russian oil refining capacity shut down in the wake of drone attacks in the first quarter amounts to about 4.6 million metric tons (370,500 barrels per day), or some 7% of the total, Reuters calculations showed on Friday.

A number of Russia’s oil plants, including the Syzran oil refinery controlled by Rosneft and the Slavyansk refinery in Krasnodar region, suffered drone attacks over the weekend.

Source: Reuters reported by Reuters, edited by Mark Potter