Russia’s oil prices fell for a fifth week, leaving the value of the nation’s shipments close to a two-year low and largely negating the impact of a gain in crude sales.
Total flows in the four weeks to May 11 were worth about $4.09 billion, edging up from the period to May 4 but still the second-lowest since April 2023. Export prices for key grades shipped from the Baltic, Black Sea and Pacific regions all registered further declines.
Cargoes in the four weeks to May 11 advanced for a fourth week, rising by 3% to reach 3.42 million barrels a day. The increase was driven by a rebound in shipments during the ...
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