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  • Russia warns of sharp Caspian pipeline oil export drop after storm

    03/22/2022 2:20:53 PM PDT · by navysealdad · 4 replies
    Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium (CPC) from the Black Sea may fall by up to 1 million barrels per day (bpd), or 1% of global oil production, due to storm-damaged berths, a Russian official said on Tuesday. Pavel Sorokin, a Deputy Energy Minister, said the second berth could also turn out to be damaged after initial information about one of the three being damaged by a storm. Major global trading houses such as Vitol and Trafigura said on Tuesday they estimated the current Russian oil disruption at 2 million to 3 million bpd and added...