From June 2007 IEA Oil Market Report
FSU apparent demand – defined as domestic crude production minus net exports of crude and oil products – has been marginally revised upwards by 16 kb/d in 1Q07 and downwards by 19 kb/d in 2Q07. Overall, the region’s apparent demand in 2007 is virtually unchanged from last month’s report, and isexpected to average 4.0 mb/d (0.1% lower than in 2006).The region’s net exports are expected to continue to peak at close to 9.0 mb/d during 2Q07. This would be the second quarter in a row of post-Soviet highs. It should also be noted that Russian duties fell from 1 April, further boosting net exports. Duties, however, are poised to increase again on 1 June.
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