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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 PRODUCTS
Russian oil products seaborne exports fell to the lowest level since July 2020 to 2.1mbpd in the first two weeks of October, largely due to the effects of a recent ban on shipments of road fuels including diesel, Vortexa data, cited by Bloomberg showed.
- Exports so far this month are around 10% less than the average daily volume in October and 7% below levels from October last year.
- Diesel and gasoil flows declined to the lowest level in five months to 798kbpd.
- Gasoline and blending component shipments have almost ceased to just 2.6kbpd, down from 139kbpd in September, given the ban on most shipments of the fuel is still in effect.
- Ultra-low sulfur diesel shipments plunged to roughly 86kbpd after growing almost fivefold in the second ban, after Russia lifted the ban on diesel exports.
- Jet fuel shipments slumped to around 35kbpd in the first two weeks of October, down by almost 40% on the month.
- Naphtha exports declined to 374kbpd this month, down by 14% on the month.
- In contrast, fuel-oil exports surged to 812kbpd this month, the highest since April.
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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