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OIL
Russia shipped around 3.53m b/d of crude in the week to Oct. 22, up 0.2m b/d on the week, according to Bloomberg.
- The less volatile four-week average climbed to 3.5m b/d, the highest since June and up 0.61m b/d since August.
- This means exports are above where they should be if Russia was abiding strictly to the 0.3m b/d production cut below the May/June average. Bloomberg calculations estimate it should be 3.28m b/d for the most recent period.
- Flows to Asia edged higher, with the four-week average exports to the continent at 3.06m b/d. Flows to India remain below their peak this year, around 14% below the May high.
Source: 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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