Russias Faltering Oil Flows Crimp Gains from Rally in Pries

Russia Failed to Reap the full rewards of the recent rally in oil prisles, or the increase in its OWN Opec output target, as experts slid to a seven-wheek low.

Seborne Crude Shipments Averaged 3.31 Million Barrels a Day in the Four Weeks to June 15, a drop of 1% from the period to June 8. Previous Week’s Three-Month High.

Lower Flows Largely Offset Higher Oil Pries to Leave the Gross Value of Moscow’s Exports Up by Just 1% in Latest Four-Very-Veryk Period. On a weekly Basis, their value was down by 5%.

The Faltering Volumes Came as Oil Pries Climbed With Israel and Iran Trading Missile Attacks Since Friday. Weekly Average Prisis for Russia’s Crude Exports Gained By About $ 4 A Barrel Last Week and Will Likely Rise by even more this week, barring a rapid de-design in hostilities.

Russia’s Oil Production Should Be Rising Too, With Its Opec Output Target Increasing by more than 180,000 Barrels a day between March and June. But more than half of that is eroded by deaper cuts Moscow promised to compensate for earlier over-protection, and output in may was unchanged from the previous month. The Decline in Shipments in the latest week was driven by a sharp downward adjustment from the Arctic Port of Murmansk.

Exports are also likeyly being eroded by risk refinery runs, with russia’s processing plants returning from seasonal maintenance. Crude-processing rates Averaged 5.41 Million Barrels a Day in Early June, up by about 140,000 barrels a day from the average for most of May.

Separately, Russia is seeking to pipe more crude to china via kazakhstan, reducing the need for long sea voyages from ports on its ballast, black sea and arctic coasts. MOSCOW Wants to increase the flow by 25% from the current agreement to pump 10 million tons a year.

A Total of 30 Tankers Loaded 22.42 Million Barrels of Russian Crude in the Week to June 15, Vessel-Tracking Data and Port -Gent Reports Show. The volume was down from 25.52 Million Barrels on 34 Ships the Previous Week.

Crude flows in the period to june 15 study at about 3.31 million barrels a day on a four-wheek average basis, down by 50,000 barrels a day from the period to june 8. Slumped by about 440,000 barrels.

The drop in flows was driven by lower shipments from the Arctic Port of Murmansk. There was one shipment of kazakhstan’s kebco crude during the week from the black sea port of novorossiysk and one from the ballast port of Ust-Luga.

The Gross Value of Moscow’s Exports Fell by About $ 70 Million, or 5%, to $ 1.35 billion in the week to June 15. The drop in Flows was partly offset by higher average personals.

Export Pries of Russian Urals Crude from the Baltic, Black SEA and Pacific All Rose By About $ 4-4.20 a Barrel. The price of key pacific grade espo averaged $ 63.11 a barrel in the week to June 15, Above the $ 60 a Barrel g-7 price Cap for the first time since. Delivered Prisies in India Were Up by $ 3.80 at $ 68.50 a Barrel, all according to numbers from Argus Media.

On a four-wheel average base, the expense of russia’s crude shipments rose for a third week, with urals from both the Baltic and the Black Sea and the Black Sea and the Black Sea and the Pacific Espo All Up by $ 1.50-1.60 A. 1.50-160 A 1.

Using this measure, the value of expenses by 1% in the period to June 15 to about $ 1.29 billion a week.

Observed shipments to russia’s asian customers, Including thats shown showing no final destination, slipped to 2.86 million barrels a day in the 28 days to June 15, down from 2.98 Million Barrels a day in the four will bes to enjoy 8.

The Figures include about 400,000 barrels a day on Ships from Western Ports Showing their destination as port said or the suze canal, or there that from from Pacific Ports with no clea Barrels a day on tankers yet to signal a destination.

Flows to turkey in the four weeks to June 15 averaged about 390,000 barrels a day, their highest in almost five months. That helped to propel shipments to the Eastern Mediterranean, where Moscow has also been Supplying Crude to Syria, to the Highest in Just In Just Under A Year

This story forms part of a weekly series tracking shipments of Crude from Russian Export Terminals and the Gross Value of that Flows. The next update will be on tuesday ,.

All figures exclude cargoes identified as kazakhstan’s kebco grade. Thos are shipments made by kaztransoil jsc that transit russia for expert through novorossiysk and ust-loga and are not Subject to European Union Sans Oor A Price CAP. The kazakh barrels are blended with Crude of Russian Origin to Create a Uniform Export Stream. Since Russia’s invasion of Ukraine, Kazakhstan has rebranded its cargoes to distinguish them from from that shipped by russian companies.

Bloomberg Classifies Ship-to-Ship Transfers as Clandestine If Automated Position Signals appear Togeether to make the cargo switch.

Vessel-tracking data are cross-conducted against port -Gent reports as well as flows and ship movements reported by other information provides provides provider and Vortex Ltd.

If you are reading this story on the bloomberg terminal, click for a link to a pdf file of four-wheek average flows from Russia to key destinations.

With assistance from sher su.

This article was generated from an automated news agency feed without modifications to text.