June 04, 2024 12:37 GMT
Russia’s Four-Week Average Crude Exports Fall: Bloomberg
OIL
Russia’s four-week average crude exports in the period to June 2 declined for a fourth consecutive week, according to Bloomberg, with shipments hitting a three and a half month low.
- Four-week average shipments were down 115k b/d to 3.27m b/d.
- The more volatile weekly flows were unchanged at 3.22m b/d.
- Crude shipments so far in 2023 from Russia are around 5k b/d above the 2023 average.
- Russia said it would compensate for overproduction in April, which it attributed to “technicalities of making significant output cuts.”
- The falling output may be a sign that the Kremlin is making good on its promises, Bloomberg said.
Source: Bloomberg
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