SCO & BRICS latest news and insights
By Rhod Mackenzie
As interested observers and market participants may recall, the Group of Seven (G7) countries, along with the European Union, Australia, and New Zealand, agreed to cap the price of a barrel of Russian oil transported by Western tankers and insured by Western insurers at $60 from...
Kommersant reports that in March, Russian oil companies significantly increased sea exports to 3.8 million barrels per day due to problems with refinery utilization. This is the highest level since May 2023. The increase in oil exports is due to the redirection of flows from refineries damaged by dr...
In March, Asian buyers received an average of 27.48 million barrels per day. According to Oil Price reports, data for January and February 2024 showed 27.18 million bbl/d and 26.70 million bbl/d respectively. Experts attribute the high March result, among other factors, to the price. During the time...
Thanks to the Bloomberg, Kepler, and Reuters information agencies, its relatively easy to monitor the movement of Russian oil online. They also allow people to study weekly supply volumes by consumer countries and shipping destinations, as well as prices, discounts, refuseniks, and new markets. The...
According to Kpler, a company that analyses global commodity flows, China is set to break its record for oil purchases from Russia this month. Based on monitoring tankers carrying Russian oil, it is expected that China will receive an average of 1.7 million barrels of oil per day throughout the firs...
By Rhod Mackenzie
The new US sanctions will cause the already closed grey fleet that transports Russian oil to become even more restricted, further disrupting the global tanker market. and causing more chaos in the already chaoic sector.
The number of tankers in the grey fleet, which carries san...
