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OIL
Russian seaborne crude exports fell in the first full week following sanctions on Dec 5 according to Bloomberg vessel tracking data.
- Some of the decline was due to a four day outage halting Urals exports from the port of Primorsk with cargo scheduling and weather also possibly impacting the weekly data.
- Vessel tracking suggests a decline in exports from Kozimo in a sign that oil tanker availability to transport Russian crude may be limited.
- The four week average exports from Russia have decline by 266kbpd. Shipments to Europe have almost completely stopped with the remaining flows heading to Bulgaria. Exports to China, India and Turkey also declined down to 2.53mbpd.
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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