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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Seaborne crude flows from Russia in the four weeks to Dec. 30 were the lowest in 2022 according to Bloomberg ship tracker data.
- The four week average seaborne supplies fell by 117kbpd to 2.615mbpd.
- Weather disruption has been a factor in the lower flows with loadings from the Pacific port of Kozmino halted for more than 11 days in Dec. A shortage of vessels following the sanctions on Russian supplies could also have contributed to the decline.
- Deliveries to Europe fell from about 1.6mbpd at the start of 2022 to less than 160kbpd last month with Bulgaria the sole remaining European destination. Exports have been diverted longer distances to countries such as China, India, and Turkey at discounts of up to a 30$/bbl. Russian crude flows to China, India and Turkey fell in the four weeks to 30 Dec to 2.42mbpd.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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