24 January 2023 | Other

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.

Company MarketCheese
Period: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
25 April 2025 55
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
25 April 2025 40
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
25 April 2025 34
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
25 April 2025 35
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 89
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 45
Go to forecasts