Oil shipments out of Russia haven’t dropped in recent months despite the Russian pledge to cut production by 500,000 barrels per day (bpd) from March onwards, a Bloomberg analysis of shipping data showed on Friday. The most recent tanker-tracking data suggest that instead of falling, Russian crude oil exports by sea are rising.
The average four-week crude shipments from Russian export terminals increased for a sixth consecutive week in the week to May 19, according to tanker-tracking data reported by Bloomberg’s Julian Lee. Russia’s…Market Data Suggest Russia Isn’t Cutting Oil Production As Promised
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