March 3, 2024 11:18 pm

Russia’s crude oil processing soars – Bloomberg — RT Business News

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

URGENT: JUST 11 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, TO ENSURE WE ARE FULLY FUNDED FOR NEXT MONTH,SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

The country’s refineries have reportedly processed over 5 million barrels a day

Russia’s oil processing has been on the rise, jumping in the past week close to the highest daily refining runs in more than eight months, Bloomberg reported on Monday, citing sources.

According to a person familiar with the matter, the country’s refineries processed around 5.65 million barrels of crude a day from December 14 to 20. The figure is down by around 50,000 barrels per day (bpd) from the previous seven days, when average daily refinery runs hit the highest since early April.

Bloomberg calculations show that Russian daily crude refining in the first 20 days of December averaged around 5.57 million bpd, up almost 60,000 bpd on most of November.

Meanwhile, tanker-tracking data reportedly shows that Russia’s daily overseas crude supplies in the global market decreased to 3.18 million bpd in the week to December 17 as a result of a brief pause in shipments from the Baltic Port of Primorsk. “Still, the less volatile four-week average increased by 80,000 barrels a day,” Bloomberg wrote.

Russia has been diversifying its energy supplies in response to Western sanctions since the EU stopped accepting the country’s oil transported by sea. In February, Moscow pledged to voluntarily reduce oil production by 500,000 bpd starting from March. The move came in response to sanctions, while Russia also halted sales to buyers that comply with a Western-imposed price cap of $60 per barrel.

Along with its OPEC+ allies, Moscow has also agreed to slash combined crude and petroleum exports by 300,000 barrels a day through the rest of the year, and to deepen the curbs by another 200,000 barrels per day in the first quarter of 2024.

For more stories on economy & finance visit RT’s business section

You can share this story on social media:

Source link

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

Original Source: Russia’s crude oil processing soars – Bloomberg — RT Business News

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Let’s not lose touch…Your Government and Big Tech are actively trying to censor the information reported by The ANR to serve their own needs. Subscribe now to make sure you receive the latest uncensored news in your inbox…

Australian National Review is Australia’s first real free and independent press, one with no editorial control by the elite, but a publication that can generate critical thinkers and critical debate and hold those spreading mistruths and deliberate propaganda in mainstream media to account.

News with a difference that will be educational, compelling and create a platform for political and social change in this country and address the real issues facing this country and the world.

Discover more from ANR

Subscribe now to keep reading and get access to the full archive.

Watch Full Documentary

URGENT: JUST 3 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED TO LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS

Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8