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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 exports rose by 26% on the week to 3.6mbpd last week according to Bloomberg vessel tracking data.
- On a four-week average basis, overall seaborne exports rose by 129kbpd to 3.34mbpd.
- Flows climbed to multi-week highs from all its Baltic, Black Sea, Arctic and Pacific terminals. A less-volatile four-week average of exports also rose.
- The flow data offer just the gentlest indication that a planned cut to Russian oil production from next month might not be forced.
- Moscow announced earlier this month that it would cut its March output by 500kbpd, a step that some analysts said was an unavoidable reduction and not a policy choice for Russia.
- The volume of crude on vessels heading to China and India — plus small flows to Turkiye and the quantities on ships that haven’t yet shown a final destination — rebounded in the four-week period, to an average 3.19mbpd.
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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