OIL: Turkey Imports Higher Volumes of Russian Oil in May

Turkey’s purchases of Russian Urals hit a seven-month high in May according to Refinitiv.

• Around 230,000 bpd of Urals oil were loaded for delivery to Turkey’s ports in May, the highest level since October 2022 and nearly double April’s volumes.
• President Erdogan celebrated his election win today, promising continued trade with Russia.