Exports of petroleum products from Russia have risen in the last few weeks to the highest level since September 2023. In this respect he is writing Bloomberg cites statistics from Vortexa Ltd.
According to the company, between November 20 and December 17, supply from Russia reached an average of 2.4 million barrels per day. Moreover, when we look at the export amounts of Russian oil products for the week, it turns out that it is over 3 million barrels per day. This is a record since the end of March. At the same time, Russia increased its seaborne oil supply to 3.28 million barrels per day.
Accordingly, Bloomberg concludes that the OPEC+ alliance has every reason to suspect that Russia is violating its obligations to reduce oil production and exports. Officially, Moscow does not publish fuel production volumes.
According to OPEC, oil production in Russia in October remained at the level of July-September, reaching 9.5 million barrels per day.
The agreement between OPEC+ countries to jointly cut oil production by 1.4 million barrels per day began to come into force in the summer of 2023. Russia has committed to reducing exports by 500 thousand barrels per day.
Previously “socialbites.ca” saidHow will the reduction in OPEC+ oil production affect Russians’ money?