"Russia to cut oil exports from sea ports in January"

" Russia to cut oil exports from sea ports in January \r\n\r\nRussia is planning to scale back oil exports from its sea ports next month by between 100,000 and 200,000 barrels per day compared to December levels, according to industry sources familiar with Russia\u2019s export plans.\r\n\r\nThe reason for the scaleback, the anonymous sources told Reuters, is increased throughput at its own refineries.\r\n\r\nKpler pegged Russia\u2019s seaborne crude oil exports at 3.5 million bpd so far in December. Kpler has also predicted that Russia\u2019s oil exports will fall in January as its domestic refining picks up steam, with its offline refining capacity for December reaching 2.098 million metric tons.\r\n\r\n\u201cThe export schedule for the first quarter of 2024 is lower than for October-December,\u201d one of the sources shared with Reuters.\r\n\r\nThe sources suggest that the declines will mainly be seen in Russia\u2019s western ports of Primorsk, Ust-Luga, and Novorosslick.\r\n\r\nRussia schedules its exports using a three-month schedule in the month prior, giving oil companies time to plan oil flows through the Transneft system.\r\n\r\nRussia said yesterday that its crude oil exports will be 7% higher this year compared to 2021 levels, prior to Russia\u2019s invasion of Ukraine. 2023 exports from Russia are expected to be 250 million tons, Russian First Deputy Prime Minister Andrei Belousov told Interfax.\r\n\r\nSo far, Russia has managed to continue exporting crude oil at high levels despite sanctions and price caps through its vast shadow fleet of tankers.\r\n\r\nIn November, the country voluntarily promised to increase export cuts as part of its agreement with the OPEC+ group to 500,000 barrels per day total\u2014300,000 bpd of which would be crude oil, and 200,000 bpd of which will be oil products."

"Russia to cut oil exports from sea ports in January"

Togbe Afede XIV calls for overhaul of Bank of Ghana operationsAMP

COCOBOD returns $250m from $600m loan facility secured from African Development BankAMP

Kylian Mbappe confirms Paris Saint-Germain exit ahead of Real Madrid moveAMP