And the countries of the OPEC+ alliance, which includes Russia and the OPEC group countries, have announced that they will voluntarily cut oil production by more than a million barrels a day in April until the end of the year.
“Given the unfounded speculation in the press about oil production levels, Russia reaffirms its full commitment and implementation of the voluntary oil production reduction levels,” Novak said in a statement.
“The target level for voluntary production cuts is 500,000 barrels per day from the February level until the end of 2023. A follow-up will be carried out according to independent sources,” he added.
He also said that the estimated two-thirds decrease in the volume of Russian pipeline exports to the EU was only partially offset by maritime exports.
And Bloomberg said in an analysis of tanker tracking data that Russia’s oil exports jumped more than 4 million barrels a day in the week ending April 28, a high level that It had only exceeded once since the start of the Ukrainian crisis last February. year, and the flows have not changed. They actually changed based on a four-week average, which the agency says does not reflect the cuts announced by Russia.
India tops the list of destinations for Russian oil transported by sea with 1.17 million barrels per day, followed by China with around 980,000 barrels per day, and the volume of shipments of unknown destination amounts to over one million barrels per day, four-week average.
Over the previous month, data released by the Chinese government showed that Russia maintained its position as China’s top oil supplier in March as buyers seized the opportunity from sanctions imposed on Urals crudes and other crudes. ‘Espoo to buy cargo at very favorable prices.
According to data from the General Administration of Customs, imports from Russia totaled 9.61 million tonnes in March, or 2.26 million barrels per day, the highest level on record.
Shipments are up 50% from 1.50 million bpd during the same period in 2022.
This compares with 1.94 million barrels per day in January and February, which brought total Russian oil quantities in the first quarter to 25.29 million tonnes.
Read the Latest World News Today on The Eastern Herald.
