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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.


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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.


Keep reading...Show less