Russia's oil exports fuel production, strain refineries

Russia's steadily growing crude oil exports will continue to stimulate its crude oil and condensate production, predicts Moscow-based PetroMarket Research Group (PMR), which collects and records the country's energy statistics and issues its findings in the quarterly report "Russia's Oil Balances." Click here to enlarge image"Given the everlasting favorable spread between higher world oil prices and lower export-related costs, during 4Q03 producers of Russian crude will keep on exporting all available oil by all available means, trying to keep pace with the ever-increasing output," PMR said in its latest report, which tracked the third quarter 2003 and predicted trends for th...

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