Russia reduced its seaborne oil exports to 2.7 million barrels per day, the lowest level since August. This was reported by Bloomberg with reference to tanker traffic data.
The agency stated that average exports in the last four weeks decreased to 3.23 million barrels per day. This is at least eight weeks.
The decline occurred against the backdrop of the upcoming OPEC+ meeting in Vienna on November 26. Production quotas should be determined especially for 2024.
Bloomberg emphasizes that the supply of Kazakh oil exported through Russian ports is not taken into account in the calculations. This allows it to be mixed with Russia to create a single export variant, according to the agency.
The largest volumes last month were taken by China (1.19 million barrels per day) and India (1 million barrels). The publication also noted that some of these deliveries were officially sent to Egypt and South Korea.
The other day in Russia appreciated The impact of the lifting of the ban on gasoline exports.
Previously Novak guess Increasing the production of hard-to-recover oil in Russia.