Monday, April 03, 2023

Going with The Flow...

 

Russia’s Oil Flows Surge to New High Despite Planned Output Cut

Shipments topped 4 million barrels a day for the first time in the week to March 31.

Russia’s oil tankers are busier than ever.
Russia’s oil tankers are busier than ever.

Russia’s seaborne crude flows are soaring, with no sign that the Kremlin’s threatened output cut is having any impact on the amount available on the international marketplace.

The nation’s shipments surged by 1 million barrels a day to a new high of 4.13 million barrels a day in the seven days to March 31, according to tanker-tracking data compiled by Bloomberg. The less-volatile four-week average jumped to the highest since June. 

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