Russian Crude Exports Drop to One Month Low of 3.59M bpd

Commodities6 hours ago

Oil outflows from Russia's seaborne terminals decreased by 110,000 bpd in the four weeks ending Oct. 18. This decline brought the average volume of overseas shipments to 3.59M bpd, the lowest level in a month, based on tanker data. Tracking signals and satellite images of the Primorsk terminal near St. Petersburg show no tankers at its jetties for three days during the middle of last week.

Industry reports suggest the suspension at the Baltic port was for maintenance work, which is consistent with past interruptions at the terminal. The drop in volume contributed to a fall in weekly export value of $380M, bringing the total to $2.33B, a six-week low.

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40%China absorbs barrels+0.0%
30%Sanctions bite harder-0.1%
18%Compliance workaround emerges+0.1%

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Russian Crude Exports Drop to One Month Low of 3.59M bpd

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Russia Port of Primorsk

Portfolio

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State Street SPDR S&P 500 ETF Trust
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Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

40%China absorbs barrels+0.0%
30%Sanctions bite harder-0.1%
18%Compliance workaround emerges+0.1%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.