Russia oil exports through western ports forecast to fall in November, traders say
Bullish strength: 65/100
- Russian seaborne crude exports are forecast to decline by 100,000–200,000 barrels per day in November.
- Nearly three weeks of loading delays at Novorossiysk are weighing on exports.
- Declining Russian oil output could limit the ability to increase domestic crude processing quickly.
Bearish strength: 35/100
- Russian refineries plan to increase processing after maintenance ends.
- Higher Russian diesel production under the US-Russia deal could redirect supplies toward the fuel market.
- The preliminary November export plans remain subject to revision.
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