Russia to Ramp Up June Refining Capacity

Russia plans to increase primary oil refining capacity by 882,000 tonnes in June versus May, bringing the total capacity available close to the highest levels so far this year, preliminary Energy Ministry data showed on Tuesday.

Total unused primary oil refining capacity in Russia, the world's top oil producer, is expected to reach 758,000 tonnes in June, down from 1.64 million tonnes in May, or around 3 percent of the country's total primary oil refining capacity.

The move is likely to drive up prices of Urals crude, Russia's main oil export blend, as more oil will be refined at home next month.

Reporting by Maxim Nazarov