Russia's Largest Oil Port Resumes Operations After Drone Attacks

Russia's largest oil port on the Black Sea has resumed loading crude oil after several days of pause due to adverse weather conditions and drone attacks. The tanker Suez Ice Supreme left the "Sheskharis" terminal in Novorossiysk on Sunday. The terminal has a capacity of 650,000 barrels per day, but shipments were halted on Tuesday due to an increase in Ukrainian drone activity and a storm warning. The operator Transneft and the vessel manager Universal Tanker Management have not commented on the situation. The increase in attacks also led to a temporary suspension of operations at the Caspian Pipeline Consortium terminal, forcing Kazakh producers to cut production volumes. The CPC terminal has already resumed operations. Stabilizing export flows from Novorossiysk should ease pressure on the global oil market.

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