October 04, 2022 08:40 GMT
Flows of crude oil from the Russian port of Murmansk fell to the lowest of the year in September on lower supply to Europe.
- Seaborne flows of Russian crude are starting to fall ahead of the implementation of the EU ban on Russian supply on Dec 5. So far data is not showing any renewed increase in flows to Asia to offset the reduction to Europe.
- Shipments averaged 240kbpd in September down from 329kbpd in August according to Bloomberg vessel tracking data.
- The reduction was driven by lower flows to Rotterdam while flows to Italy’s Lukoil ISAB refinery rose. Supplies to India were unchanged.
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