Russian oil exports fell by 820,000 bpd last week
According to Bloomberg, Russian crude cargoes from its key export terminals dropped 22% last week compared to the previous one. The loss amounted to 820,000 bpd.
Last week's total Russian offshore crude exports of 2.98 million bpd were significantly lower than the previous week.
Bloomberg’s Julian Lee notes that even after last week's drop, Russia's average crude oil exports for the month were about 3 million bpd. That result is broadly in line with Russia's average crude supply in the second half of 2022.
Russia's weekly crude revenues fell to their lowest level since last year. It was caused by the fall of the Urals’ price with subsequent change in export duty per crude barrel. Last week's decline in export volumes also affected the overall profit situation.
At the present time, the cost of gold is firmly entrenched at $1,900 dollars per ounce. That mark is already very close to a possible maximum predicted by analysts. That kind of dynamics is driven by noticeable dollar weakening and decrease in the yields of the U.S. government bonds.
27 JanuaryAccording to expectations of strategists of the Internationale Nederlanden Groep, gold will grow in 2023.
27 JanuaryThe U.S. economy unfolded more actively in the fourth quarter than analysts might have expected. However, domestic demand grew at the slowest pace in 2.5 years, reflecting the impact of higher credit costs.
27 JanuaryThe U.S. strategic petroleum reserve (SPR) decreased by more than 40% in two years. The reserves were 371.57 million barrels on January 20, compared to 638.08 million barrels a year ago.
27 JanuaryThe European Union plans to implement a $100-per-barrel limit on Russian diesel fuel.
27 January