Russia's Western Crude Exports to Drop 100-200k bpd in November as Refining Rises

Preliminary loading schedules indicate Russia's crude exports from Baltic and Black Sea ports will fall by 100,000-200,000 bpd in November, driven by increased refinery runs following the October 9 diesel agreement with Washington. This marks a shift in Russian export strategy, prioritizing domestic diesel production over crude outflows, potentially tightening global crude supply while increasing diesel availability.

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