Oil Exports from Russia's Western Ports Hit 4-year High

Oil loadings from Russia's key western ports in April will rise to the highest level since 2019, above 2.4 million barrels per day (bpd) despite Moscow's pledge to cut output, trading and shipping sources said.

Russian crude exports and transit from the ports of Primorsk, Ust-Luga and Novorossiisk in Arpil will rise above 10 million tonnes, up from 9.7 million tonnes in March.

Russia's Deputy Prime Minister Alexander Novak said on Feb. 10 that Russia would reduce production by 500,000 bpd in March, then in early April promised to extend cuts until the end of the year.

(Reuters - Reporting by Reuters)