Crude exports ease on Caspian slide.(News)

Exports of crude from the FSU eased by almost 5pc in August from July's record levels to 4.8mn b/d (20.28mn t). But year-to-date volumes remain 17pc up on the same period last year.

Shipments were hit by an 8pc fall in volumes transported using Russia's rail network, and a slide in Caspian Pipeline Consortium (CPC) exports due to maintenance at the Tengiz field in Kazakhstan, which still provides the lion's share of the route's crude.

Exports of Caspian crude through other routes also fell, as did exports using the Russian river network.

The overall slide came in spite of a small rise in shipments through Russia's Transneft pipeline network. The bulk of the rise was seen at Black Sea ports amid favourable weather conditions. But Odessa shipments collapsed, with a large proportion of volumes diverted to the nearby Pivdenne terminal (FSUE, 5 September p5). And combined …