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OIL
Russia’s weekly crude exports fell the most in over three months during the seven days to June 23, according to Bloomberg.
- The decline was driven by maintenance at key ports. Works at Primorsk, and Kozmino cut shipments from Russia’s busiest terminals, with no departures for four days during the week.
- However, flows should rise again in the week to June 30, with loadings having restarted at both ports.
- A total of 27 tankers loaded 21.9m bbl of crude from Russia in the week to June 23, down from 25.91m bbl the week prior.
- This translates to around 3.04m b/d, down 660k b/d on the week and the lowest in over three months.
- The less volatile four-week average was also down by 45k b/d to 3.37m b/d.
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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