• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 47 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 21 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 12 days Does Toyota Know Something That We Don’t?
  • 24 hours World could get rid of Putin and Russia but nobody is bold enough
  • 22 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 3 days Even Shell Agrees with Climate Change!
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Anti-Oil Activists Shift Focus to Insurers

Anti-Oil Activists Shift Focus to Insurers

Activists have also started attacking…

Russia’s Crude Exports Rising Despite Maintenance at Baltic Port

Russian crude oil shipments continued to increase on a four-week average basis, despite maintenance work that reduced flows out of the port of Primorsk on the Baltic Sea last week, tanker-tracking data monitored by Bloomberg showed on Tuesday.    

Russian crude oil exports from its ports averaged around 3.28 million barrels per day (bpd) in the four weeks to December 17—an increase of about 80,000 bpd compared to the four-week average to December 10, according to the data reported by Bloomberg’s Julian Lee.

In the four weeks to December 10, Russia’s crude oil shipments jumped after storms in the Black Sea that had disrupted loadings in November subsided.

Despite a four-day halt to Primorsk loadings in the week to December 17, Russian crude oil shipments were higher by 80,000 bpd compared to the four-week average to the week ending on December 10.

At the end of last week, a storm and planned maintenance at Primorsk forced Russia to suspend on Friday around two-thirds of the shipments of its flagship crude grade Urals from its Baltic and Black Sea ports.

Russia has pledged to reduce its oil exports by 300,000 bpd until the end of 2023, in a show of solidarity with its OPEC+ partner Saudi Arabia, which is voluntarily reducing its oil production by 1 million bpd until 2023.

At the latest OPEC+ meeting, Russia said it would deepen the export cut to 500,000 bpd in the first quarter of 2024, with May and June of 2023 being the reference export levels for the cut, which will consist of 300,000 bpd of crude and 200,000 bpd of refined products.

Russia has always been evasive about its compliance with the OPEC+ agreement, even before the Russian invasion of Ukraine.

Since the invasion of Ukraine, Russia has classified its oil production and export data, saying it would not provide detailed information about its oil sector which could be used by the West to track down and clamp down on Russia’s oil exports, or oil revenues.

Earlier this month, reports emerged that Russia has promised oil-flow tracking companies and price reporting agencies to provide data about its production, inventories, and fuel output after OPEC+ asked Moscow for more transparency in tracking its compliance with the cuts.

ADVERTISEMENT

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News