23 December 2022 | Other

Oil supplies from Russia may fall by 20%

Exports of Russia's main Urals crude oil from Baltic Sea ports may drop by 20% in December. This is related to the entry into force of marginal oil prices and the European Union embargo on supplies from Russia.

According to traders, Russia has not been able to fully redirect Urals supplies from Europe to other markets, such as India and China, and has been desperate to find the optimal number of ships.

Traders’ data and calculations by Reuters suggest that deliveries of Urals from the Baltic Sea ports this month are likely to drop to around 5 million tons, and according to some estimates, to 4.7 million tons. In November, this figure was 6 million tons.

On December 5, price caps for oil from Russia at $60 per barrel set by the EU, G7 countries and Australia came into effect, further to the EU embargo on imports of Russian oil by sea.

Company MarketCheese
Period: 11.07.2025 Expectation: 920 pips
GBPUSD falls as UK GDP unexpectedly shrinks
Today at 10:42 AM 5
Brent sell
Period: 17.07.2025 Expectation: 150 pips
OPEC's gloomy forecast drags Brent crude prices lower
Today at 08:53 AM 10
Period: 17.07.2025 Expectation: 26000 pips
Institutional investor demand could push ETHUSD to 3,000
Yesterday at 10:38 AM 35
Period: 16.07.2025 Expectation: 2000 pips
USDJPY prepares to retest 148 Level
Yesterday at 08:19 AM 38
Period: 16.07.2025 Expectation: 900 pips
NVIDIA shares rise amid global AI infrastructure investments
09 July 2025 66
Period: 15.07.2025 Expectation: 800 pips
Breaking downtrend could push USDCAD to 1.375
09 July 2025 44
Go to forecasts