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OIL: Russia’s Crude Exports Rise to Three-Month High

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Russia’s four-week average crude shipments edged up to another three-month high with seasonal maintenance at the country’s refineries keeping domestic oil production depressed, Bloomberg said.

  • Four-week average crude shipments rose 7k b/d to 3.33m b/d in the week to Oct. 13, the highest since early July.
  • The more volatile weekly crude flows fell by about 60k b/d to 3.31m b/d.
  • There were fewer shipments from Russia’s Black Sea and Arctic ports which drove the drop in weekly flows.
  • The increase in four-week flows comes as Moscow increases the rate at which it is putting sanctioned tankers back to work.

 

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Russia’s four-week average crude shipments edged up to another three-month high with seasonal maintenance at the country’s refineries keeping domestic oil production depressed, Bloomberg said.

  • Four-week average crude shipments rose 7k b/d to 3.33m b/d in the week to Oct. 13, the highest since early July.
  • The more volatile weekly crude flows fell by about 60k b/d to 3.31m b/d.
  • There were fewer shipments from Russia’s Black Sea and Arctic ports which drove the drop in weekly flows.
  • The increase in four-week flows comes as Moscow increases the rate at which it is putting sanctioned tankers back to work.

 

Keep reading...Show less