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Russia’s Seaborne Crude Exports Fall From 7-Month High

OIL

Russia’s seaborne crude exports eased back from a seven-month high although remained above the 52-week average, according to Bloomberg.

  • Weekly flows fell by 290k bd in the week to Feb. 11 to 3.49m b/d, putting exports still 200k b/d above the OPEC+ target.
  • The four-week average rose by 30k b/d to 3.25m b/d, putting it near the OPEC+ target.
  • The four-week average continues to be affected by a storm that closed Kozmino for five days in the week to Jan. 28, as well as disrupted shipments from Ust-Luga after a drone strike.

Source: Bloomberg

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