Russian oil supplies have fallen to their lowest level since February. About this write Bloomberg agency.
“Russian oil shipments fell to their lowest level since February as refining volumes grow faster than production, reducing exports. Average seaborne crude cargoes were 3,12 million barrels per day in the four weeks to July 6, down 3% from the period to June 29, according to tanker tracking data compiled by Bloomberg.”, – stated in the publication.
Production increased by about 60 barrels per day, which is one-third of the total production increase set for the OPEC+ country. At the same time, refining volume increased by 140 barrels per day.
The production increases allowed to Russia under OPEC+ are capped by deeper cuts. Under current plans, the size of these cuts will increase through September, likely further limiting the amount of additional oil available for export.
The fall in Russian exports highlights the gap between the large increase in production by the OPEC+ group and the much smaller additional volumes that actually enter the international market, the publication says.
