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crude oil production

Russia's crude oil export set to drop 3pc in Q2 vs Q1
Markets

Russia's crude oil export set to drop 3pc in Q2 vs Q1

  • Russia plans to decrease its oil exports in the second quarter 2021 despite an OPEC+ decision to allow the state an additional output hike from April.
  • On a daily basis, Russia's oil exports will drop by some 3% in April-June compared to the first quarter of 2021, Reuters calculations showed.
Published 18 Mar, 2021 09:41pm
US crude stockpiles surge, fuel draws down in post-Texas freeze period: EIA
Markets

US crude stockpiles surge, fuel draws down in post-Texas freeze period: EIA

  • Crude inventories rose by 13.8 million barrels in the week to March 5 to 498.4 million barrels, compared with analysts' expectations in a Reuters poll for an 816,000-barrel rise.
  • Refining activity rebounded as well, but with overall utilization rates lower than usual for this time of year, stocks of gasoline, heating oil and diesel continued to decline.
Published 10 Mar, 2021 08:54pm