May 21, 2024 13:02 GMT
Russian Oil Exports Tick Narrowly Higher w/w
OIL
Russian crude exports narrowly gained in the week ended May 19 according to Bloomberg vessel tracking.
- Russia’s seaborne crude flows in the week to May 19 rose by about 140,000 bpd to 3.39 mn bpd from 3.24 mn bpd for the week to May 12.
- The less volatile four-week average fell by about 40,000 bpd to 3.43 mn bpd.
- Moscow is transitioning away from shipments cuts and towards output cuts as part of OPEC+ commitments.
- Russia looks set to see the first month of increasing refinery runs in May since December as facilities return from maintenance and drone strikes.
Source: Bloomberg
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