Russia gets ready for winter glut.(oil prices, exports)(Brief Article)

Domestic crude prices in Russia are still rising. But with seasonal price falls expected in October, when Russia has to cut crude exports due to weather-related transport constraints, domestic firms are preparing to fight the winter oil glut by hiking product exports and slashing product stocks.

The average wellhead price for Russian crude currently stands at around $13/bl, compared with less than $10/bl in late July and around $5/bl in early May, when prices started their rise. Firms are able to hike exports between April and October, when river routes are open and railcars are available. But in the winter months, railcars are used for domestic fuel oil supplies and …