The largest Russian oil port in the Black Sea has resumed crude loadings after several days of disruption caused by inclement weather and heightened drone attacks in the vicinity. On Sunday, the Suez Ice Supreme, a Suezmax-class vessel, departed from the Sheskharis oil terminal in Novorossiysk, as indicated by shipping data. This marks an important development given the terminal’s recent halt in loading activities.
The Sheskharis terminal, which has been operating at an average output of 650,000 barrels per day this year, paused its operations on Tuesday. This suspension was influenced by increased drone strikes by Ukraine targeting vessels in the Black Sea and the Sea of Azov, alongside storm warnings that contributed to the operational challenges. The situation escalated last week, affecting the nearby Caspian Pipeline Consortium terminal, which is crucial for Kazakh crude exports, forcing producers to scale back operations.
With the Sheskharis terminal back in action, stable crude flows from Novorossiysk could relieve some pressure on the global oil market. This comes amid a backdrop of reduced tensions, as the U.S. recently paused daily strikes against Iran, contributing to a more favorable outlook for crude oil supplies.
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