Dark ship-to-ship transfers keep Russian oil flowing despite sanctions
Oil Markets
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Russian Crude Production Cuts and the Oil Market
The sour market has definitely become tighter and we are seeing that reflected in a lot of the sour prices, which have been gradually tracking upwards. There are doubts over the extent of the Russian crude production cuts and whether Russia is sticking to its pledge of the 500,000 barrel per day production cut from March until the end of 2023. Euro exports actually increased by 100,000 barrels per day in May.
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