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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
Four-week average crude volumes slipped to 3.13m b/d in the week, down by 30k b/d compared to the previous period, Bloomberg said.
- The more volatile weekly average was up 40k b/d, to 3.14m b/d.
- Crude shipments so far in 2023 are around 45k b/d below the average for the whole of 2023.
- Falling global oil prices have also cut the price of Russia’s Urals crude to average $60.12/b at Russia’s Baltic Ports, according to Argus. This pushes Urals back towards the $60/b G7 cap.
- Russia terminated its export targets at the end of May, opting instead to restrict production, in line with partners in the OPEC+ oil producers’ group.
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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