Russia's Oil Flows Hold Up Despite Pledged Production Cut
Seaborne crude exports edge lower, while storage tanks fill
Russia’s oil storage tanks are filling up.
Photographer: Andrey Rudakov/Bloomberg
This article is for subscribers only.
Russia’s seaborne crude flows slipped back last week, though there is still little sign that the country has cut production as it said it would this month.
In the seven days to March 17, Russia’s shipments were trimmed by 90,000 barrels a day to 3.23 million barrels a day. The less-volatile four-week average dipped by a similar amount.