Due to the attacks of the Ukrainian Armed Forces on Novorossiysk, the supply of Russian oil to Turkey via one of the main routes has decreased.
"Turkey reduced oil purchases from Russian ports in July and plans to further reduce them in August after Ukrainian drone attacks disrupted exports from Russian Black Sea terminals," Reuters writes, citing traders and AIS data from ships.
Turkey is one of the largest buyers of CPC Blend, Kazakhstan KEBCO and Russian Urals oil brands, but received only about 900 thousand tons of oil in July. In June, shipments were a third higher. At the same time, delivery through the Black Sea ports fell by half — to 300 thousand tons.
"In August, Turkey is expected to receive about 200,000 tons of oil from Russian Black Sea ports. The two tankers that are expected to receive the oil are transporting Kazakhstan's KEBCO oil, while this month there are no plans to ship CPC Blend or Urals oil to Turkey. However, everything can change," the agency writes.
According to traders, Turkey is diversifying supplies to compensate for the negative effects of the Black Sea crisis, and shipments from Brazil and Guyana will be delivered in August.