OPEC has adjusted its oil production figures downward after Angola's exit from the group, resulting in OPEC crude's share of the world oil market being 26.5% in December. OPEC's crude oil output increased by 73,000 BPD to 26.7 million BPD in the same month, led by Nigeria. In Russia, coal prices fell 8.9-7.1% in the Far East and 4.7% in the Baltic due to cheap gas and China's coal reserves. Russia also halved its exports of high-quality gasoline after an incident at Lukoil's oil refinery. Russia's oil-export revenue in December dropped to a six-month low of $14.4 billion, despite the highest overseas flows since March reaching 7.8 million barrels per day. Russian Urals oil has infrequently traded below the western price cap, influenced by the overall weakening oil market.
Russian Urals oil has rarely traded below the western price cap. Only a weakening of the entire oil market has pushed Urals below price cap levels. https://t.co/90kZXB9VFv
#Russia’s oil-export revenue in December dropped to $14.4 billion, six-month low, even as the nation hiked its #oil flows abroad to 7.8 million barrels a day, the highest since March, according to the International Energy Agency. https://t.co/SqsjHIGENz
Russia’s oil-export revenue in December drops to a six-month low as declining crude prices offset the highest overseas flows since last spring https://t.co/fEuPjG6292
🔴 IEA MONTHLY REPORT: RUSSIAN OIL EXPORTS ROSE 500K B/D TO 9-MONTH HIGH 7.8 MLN IN DECEMBER.
#Russia halved its exports of high-quality #gasoline amid an incident at Lukoil's #oil refinery in the Volga region. More @TheTerminal
Ru business news 17/Jan/2024: The price for Ru coal is decreasing due to the cheap gas available on the market and the built up Chinese domestic coal reserves. Russian coal prices fell down in a week 8,9-7,1% in the Far east and 4,7% in the Baltic. https://t.co/nLiHXkJ9DZ
🔴 OPEC: CRUDE OIL OUTPUT ROSE BY 73,000 BPD TO 26.7 MILLION BPD IN DECEMBER, LED BY INCREASE IN NIGERIA.
🔴 OPEC ADJUSTS ITS OIL PRODUCTION FIGURES LOWER TO REFLECT ANGOLA'S EXIT FROM GROUP; OPEC CRUDE’S SHARE OF WORLD OIL MARKET WAS 26.5% IN DECEMBER.