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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 weekly crude exports plummeted in the seven days to July 7, the biggest fall since the invasion of Ukraine in Feb. 2022, Bloomberg said.
- A total of 25 tankers loaded 18.7m bbl of Russian crude in the week to July 7, down from 25.66m bbl the week prior.
- This put exports down around 990k b/d to 2.67m b/d, the lowest since the final week of January when storms affected loadings from Kozmino.
- The less volatile four-week average was also down by 215k b/d to a 20-week low of 3.27m b/d.
- The was no clear cause for the decline, with no gaps in the loading programme to suggest maintenance work, no reports of storms affecting loadings.
- Shipments were down week-on-week from the Baltic Sea, Black Sea and Pacific.
- Crude exports may be falling as part of compliance with OPEC+ quotas. Production fell by 360k b/d from March to June.
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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