Europe cuts back on Russian oil purchases by 20% due to poor quality
Europe continues to cut back on its oil purchases from Russia due to the dropping quality of the Urals variety. At the end of January-May, shipments to the EU through the primary ports of export fell by double-digit figures, Transneft vice president Sergey Andronov told Vedomosti. European clients bought 24% less from Primorsk than last year (16.1 million tons). Shipments out of Novorossiysk fell by 17% (to 7.7 million tons), and shipments from Ust-Luga by 26%.