EU shipping services still taking about half of Russian oil output
(Reuters) - European Union shipping services are still handling about half of Russia's crude oil output, a senior executive from global energy trader Gunvor Group told an industry conference on Monday.
It is 50% at the moment, which is still quite high, said Frederic Lasserre, Gunvor's global head of research and analysis.
"If we don't see an increase (from the 50%), it means that there (are) no domestic refinery issues in Russia," said Lasserre.
Lasserre also told the APPEC conference he sees an increase in Iranian crude supply and exports, which will be good for the global market balance.
He forecasts a maximum of 600,000-800,000 barrels per day (bpd) of output increase from Iran, versus his estimate of 3.2 million bpd in current output.
On U.S. crude oil supply growth, Lasserre said annual growth is expected to decline from 1 million bpd to 200,000 bpd over the next few years, with output plateauing in 2026-2027.
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