Oil loadings from Russia's western ports in April will rise to the highest since 2019, above 2.4 million barrels per day (bpd), despite Moscow's pledge to cut output, trading and shipping sources said.
Saudi Arabia and other OPEC+ oil producers early in April announced additional cuts of around 1.16 million bpd, joining Russia's initiative to reduce output. It was unclear if Russia's high exports mean it has lowered its output cuts.
In April, the amount of primary oil refining capacity offline will rise to 3.132 million tonnes from 1.684 million tonnes in March, data from industry sources and Reuters calculations show.
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