Russian oil exports fell 5.3% to 757mln bbl in Jan.-May

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Russia’s crude oil exports fell by an estimated 5.3%, year-on-year, in January-May 2008 to 103.3 million metric tons (757 million barrels), the Economic Development Ministry said Monday on its web site.

The decline was due to lower crude output and increased supplies to domestic refiners, the ministry said.

Russia’s oil exports to the Commonwealth of Independent States (CIS), a loose association of former Soviet republics except the Baltic States, grew 2.6% in January-May 2008 compared with the same period last year to 15.5 million metric tons (114 million barrels), the ministry said. Increased supplies to Belarus more than compensated for reduced deliveries to Ukraine and Kazakhstan.

RIAN