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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.
OIL PRODUCTS
Russian refined fuel exports rose to their highest since early April of last year on the latest four-week average basis.
- Russian oil product shipments averaged 2.8 mn bpd in the four weeks to Jan. 7 according to Vortexa figures. It is up ~100,000 bpd or 4% from the week prior on a 4-week basis.
- On a weekly basis, it rose 12% w/w to 2.9mn bpd.
- Out of Russia’s voluntary 500kbd export restrictions as part of OPEC+ in Q1, 200kbd are expected to be oil product related.
- Russia was in line with these cuts towards the end of last year but larger outflows of diesel, naphtha and fuel oil are pushing volumes away from the commitments.
- Bloomberg vessel tracking out yesterday reported that Russian crude exports are in line with OPEC+ cuts at 3.34mn bpd on the four-week average – down 120,000 bpd from late December levels.
Source: Vortexa via 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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