Free Trial
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
Russian crude exports in the four weeks to Aug. 20 were at their lowest level since January, driven by tepid loadings at Novorossiysk, according to Bloomberg.
- The four-week average up to Aug. 20 for total Russian crude shipments was 2.84m b/d, down 90k b/d on the four-week average to Aug. 13
- Weekly shipments were down 420k b/d to 2.37m b/d, with Novorossiyk loading only one cargo in the week to Aug. 20.
- The lack of exports from Novorossiysk was likely weather related, with two gale warnings issued in the area. This caused loadings to fall behind the scheduled programme.
- Russian oil refineries have also increased crude processing rates in August before a sharp subsidy cut is introduced in September.
- The four-week average loadings are now 540k b/d below the baseline month February – when the Russian government announced a 0.5m b/d output cut.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok