The occupiers have resumed exports through the port, which accounts for about 20% of Russia's oil supplies
The Russian Black Sea port of Novorossiysk resumed oil loading on November 16 after a two-day halt caused by Ukrainian missile and drone strikes. This was reported by Reuters, citing two industry sources and data from LSEG.
Earlier, on November 14, the Novorossiysk port and the adjacent terminal of the Caspian Pipeline Consortium temporarily suspended oil exports, equivalent to 2.2 million barrels per day or 2% of global supply. Global oil prices rose by more than 2% due to supply concerns following the attack.
Two industry sources informed the media that oil loading has resumed. According to LSEG data, unloading is currently taking place for two tankers. According to Reuters, the Ukrainian attack damaged two oil berths in Novorossiysk.
This port accounts for about 20% of Russia's oil exports, and its prolonged closure would force a costly suspension of production at oil wells in Western Siberia – significantly reducing the volume of supplies to global markets from Russia, the world's second-largest exporter, the media explains.
At the same time, the Caspian Pipeline Consortium, which exports oil from Kazakhstan through a terminal on the Black Sea, resumed unloading on November 14 after a brief interruption due to the attack, Reuters reported.
