October 04, 2022 12:16 GMT
Russian waterborne crude flows struggling to find same level of buying activity.
- Flows to the big three buyers of Russian barrels — China, India and Turkey — peaked in June at 2.2 million barrels a day. In the four weeks to Sept. 30, that figure was down by about 350,000 barrels a day.
- Russian crude flows towards Europe are also thinning ahead of the ban.
- Russia is believed to be supporting a sizeable crude production cut at tomorrows OPEC+ meeting.