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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.
OIL
Russia’s seaborne crude shipments in the four weeks to 21 January stood at 3.36mbpd, down by 50kbpd from a week earlier due to weather delays and the drone attack on one of the country’s export terminals, Bloomberg tanker tracker data showed.
- Exports declined last week due to bad weather some Russian ports and a Ukrainian drone strike on a condensate processing facility adjacent to the Ust-Luga crude export terminal, which briefly interrupted loading on Sunday, pushing one ship into the following week. Port maintenance and bad weather could further weigh on shipments this week.
- Weekly seaborne crude shipments declined by 340kbpd to 3.02mbpd, the lowest in seven weeks.
- Crude shipments to Asian customers, including those showing no destination, edged higher to 3.03mbpd in the four weeks to 21 January, up from 2.98mbpd the week prior.
- Seaborne shipments to China stood at around 1.19mbpd during the period, while shipments to India stood at 990kbpd.
- Russia pledged to reduce its crude oil exports by 300kbpd vs the May-June 2023 average.
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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