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Russia cuts fuel oil supplies by rail for further export by 1.2% in January

(Reuters) - Russia reduced fuel oil supplies via rail for further export by 1.2% in January from the same month a year ago and by 6.2% from December amid refinery outages, according to industry sources and Reuters calculations.

Russia's energy infrastructure has been hit by drone attacks and fires in the past month, adding to uncertainty in global oil and gas markets already rocked by the conflict in the Middle East.

The Baltic Sea port of Ust-Luga remained the main destination for Russian fuel oil, handling some 46% of total supplies.

At the same time, fuel supplies to the terminal fell by 18% both from January 2023 and December to 1.177 million metric tons last month as producers redirected supplies to other ports.

Fuel oil deliveries to the domestic market fell by 8.9% last month from January 2023 and by 5.8% from December to 718,000 tons, according to the sources and Reuters calculations.

Russian oil refineries in January reduced processing by 4% from a year before and 1.4% from the prior month due to drone attacks and outages, Kommersant daily reported last week, citing industry sources.


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