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Russian Seaborne Crude Exports Rebound

OIL

Russia seaborne crude exports have rebounded after two key export terminals returned from a short planned maintenance period according to Bloomberg vessel tracking.

  • On a four-week average basis, overall seaborne exports in the period to July 2 edged up by 12,000 barrels a day to 3.4 million barrels a day.
  • Crude flows through Russian ports jumped by about 1.3 million barrels a day in the week to July 2.
  • This comes at the same time as Russian Deputy PM Alexander Novak announced Monday that Russia would reduce exports by 500,000 bpd in August but did not give a baseline for the export reduction.



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