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OIL
Russia’s seaborne crude exports declined in the week to 3 March due to a more than 500kbpd drop in shipments from the Pacific ports according to Bloomberg vessel tracking.
- Output from Kozmino was potentially impacted by strong winds around the end of February reducing the number of vessels that could be loaded in the week. Overall seaborne shipments fell 14% on the week to 3.11mbpd and the four week average output dipped by 80kbpd to 3.3mbpd.
- The volume of crude on vessels heading to Asia including China, India and unknown destinations increased to a new high of 3.1mbpd from 3.09mbpd the previous week.
Source: Bloomberg
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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