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OIL
Russia’s crude and product exports trended 250kbd below the seasonal average over October 1-25 according to Vortexa (see chart), with arrivals hitting a low point in October.
- It comes as questions around Russia’s 300,000 bpd crude export cut commitments arise following increased volumes out of the country through October.
- Higher crude exports have been countered by weak oil product exports which Russian Deputy PM Novak has suggested are now part of overall cut commitments rather than just crude.
source: Vortexa
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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