Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on May 29, 2023
For the Global Oil Market, Russia’s Output Cut Isn’t Happening
Wherever you look outside of Russia, there is precious little sign of the oil production cut that President Vladimir Putin and other government officials say is underway.
For Russia’s allies in the OPEC+ grouping, who’ve committed to cutting their own output to prop up oil prices, the fact the country isn’t withdrawing supplies from the global market may be a source of frustration.
Shipments of Russian crude beyond the country’s borders are rising, not falling, even as the country is supposedly almost three months into a 500,000 barrel a day output cut, made in retaliation for sanctions and price caps imposed by Group of Seven nations. Yes, external flows of refined products are dropping, but they always fall around now. In fact, they declined by slightly less than they normally do between the first and second quarters.
Crude shipments from Russian ports in the four weeks to May 21 were more than 480,000 barrels a day higher than during the four weeks to Feb. 26, according to vessel tracking data monitored by Bloomberg. February was the baseline month for the Russian production cut.
The same pattern is seen in Russian crude flows by analytics company Kpler. Its data show an increase of about 320,000 barrels a day over the same period. Either way: flows aren’t falling.
Instead, shipments during the most recent period are up by more than 1 million barrels a day from the final four weeks of last year.
That figure’s important, because Russia has claimed that seaborne crude flows have been supported since the output cut by the diversion of barrels previously delivered by pipeline to several European countries.
But the figures show that those pipeline flows slumped well before the supposed output cut came into effect.
Germany stopped importing piped Russian crude this year while the last supplies to Poland were in January. Russia’s piped crude flow to Europe had been redirected before the output cut was even announced, let alone implemented. Piped flows have been stable since February.
So if crude flows aren’t falling, perhaps the output cut is being felt in shipments of refined products?
Here the picture is more complicated, but ultimately there’s scant evidence of a genuine drop.
Using Kpler data to track weekly products shipments from Russian ports, volumes have fallen sharply from a peak of about 3.5 million barrels a day in the week to March 26. By the week ended May 21, they had fallen by 1 million barrels a day.
On the surface, that’s a lot. Even using four-week averages to smooth out some of the extremes, the drop is more than 600,000 barrels a day.
But the path of Russia’s refined products over the first quarter of this year has been anything smooth, with wild swings around the time of an imposition of a European Union ban on seaborne imports that came into effect in early February.
23 Comments on "For the Global Oil Market, Russia’s Output Cut Isn’t Happening"
Sissyfuss on Mon, 29th May 2023 11:58 am
I see you crazy mofos are still at it. Humanity is doing next to nothing to repair the increasing damage and destruction rendered to the Earth. Keep fiddling folks, we need music apropos to the 6th Mass Extinction, perhaps a requiem would suffice.
theluckycountry on Mon, 29th May 2023 2:47 pm
There is no point in listening to any “Predictions” in the media, which are often couched as though they they are set in concrete.
“We will have fleets of fully autonomous cars by 2022”
Nor is their any point in taking at face value western media reports on what has actually happened. Fake news, full of Western propaganda, is the new normal.
It varies in the depth of the lies but the simple fact is “real” reporting is a thing of the past. No one from a news agency puts boots on the ground now, they simply call up a ‘contact’ where the story is unfolding and submit that as though it was a factual account written down at the scene by the reporter.
Ever journo does this now, if they are local news they have their contacts in the Police, the local government, the emergency services, and all they do is sit in their offices and write pieces based on what they are told. It’s why the stories are always flat, always short of real information, they are fleshed out with copious emotional drivel about how people “Feel” about what happened.
If they do turn up at at a protest or a major news event the script is already written. If it’s an anti-government protest the numbers of people present are minimized, if it’s a something like the violent BLM protests the violence is not reported. If you know this though you can use the stories as a sort of contrary indicator but if it’s not in your city, why bother. Who cares if a puppy is thrown off a cliff in Iraq.
Duncan Idaho on Tue, 30th May 2023 10:57 am
If there’s anything to the idea that people get more YOLO when they get old, then you really don’t want a geriatric criminal who figures he’s got nothing to lose running the country?
Ted Wilson on Tue, 30th May 2023 12:25 pm
china, india, pakistan, bangladesh … are interested in buying as much russian crude as possible. no end in sight.
Ted Wilson on Tue, 30th May 2023 12:28 pm
in face lukoil sells the gasoline that is refined from oil produced in russia is sold in east coast states of usa.
as long as something is sold at a lower cost, people line up. hey its market economy.
Dredd on Wed, 31st May 2023 12:14 pm
Ergo, the race to the finish (On The Origin of The Containment Entity – 8).
eeee on Wed, 31st May 2023 12:35 pm
Aussitôt que je suis sorti d’icette, toutes la planète terre va la prendre dans le cul ben solide.
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS on Sat, 3rd Jun 2023 9:01 am
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
June is Thank UPPERtard Month for supporting free speech on Sat, 3rd Jun 2023 9:03 am
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
Theedrich on Sat, 3rd Jun 2023 3:08 pm
The anal filth that rules our country knows that the U.S. is quickly becoming exhausted. Hence the proxy war in Ukraine, which is camouflaged with all kinds of propaganda about the evils of Russia, Putin, etc. Hence also the permissive environment which accepts every type of lethal narcotic (100K deaths/yr in the U.S.!) and other idiocy. (Given that you live in the terra fructuum nucumque, you are well aware of it. I live on the Left Coast as well, and we are not far behind you.) The general collapse due to over complexification as predicted by Joseph Tainter in his acclaimed The Collapse of Complex Societies, Cambridge University Press, 1988, 1992 cannot be far off.
June is Thank UPPERtard Month for supporting free speech supremacist muzzies 2016.05.10 Germany Grafing 1 3 A man shouting praises to Allah stabs four commuters at a train station. on Sat, 3rd Jun 2023 4:32 pm
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
June is Thank UPPERtard Month for supporting free speech supremacist muzzies 2022.05.11 France Marseille 1 0 A local doctor is randomly stabbed to death by a man acting "in the name of Allah." on Sat, 3rd Jun 2023 8:34 pm
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS on Sat, 3rd Jun 2023 8:35 pm
June is Thank UPPERtard Month for supporting free speech
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK supremacist muzzies 2022.05.13 Germany Herzogenrath 0 5 An Islamic terrorist from Iraq knifes five persons at random on a train on Sun, 4th Jun 2023 9:53 pm
elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS
June is Thank UPPERtard Month for supporting free speech
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK supremacist muzzies 2021.11.06 Germany Munich 0 4 A Syrian refugee with 'Islamist motives' stabs four innocent train passengers. on Mon, 5th Jun 2023 12:31 pm
elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS
June is Thank UPPERtard Month for supporting free speech
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS on Tue, 6th Jun 2023 11:22 pm
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS i welcome supertard with random names such as eeee back and appoint him supertard his title is 'the lover' on Wed, 7th Jun 2023 7:40 pm
of supremacist muzzies
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS i welcome supertard with random names such as eeee back and appoint him supertard his title is 'the lover' on Thu, 8th Jun 2023 11:04 am
of supremacist muzzies i also appoint supertard FamousDrScanlon supertard his title is ‘the lover’ of supremacist muzzies
elite whitey supertards allocated 164M for fighting supremacist muzzies but muzzies are overruning europe and america
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK supremacist muzzies Wakefield MA man Mateo Ventura accused of supporting ISIS 'war of kaffar' on Thu, 8th Jun 2023 12:30 pm
elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS i welcome supertard with random names such as eeee back and appoint him supertard his title is ‘the lover’ of supremacist muzzies i also appoint supertard FamousDrScanlon supertard his title is ‘the lover’ of supremacist muzzies
elite whitey supertards allocated 164M for fighting supremacist muzzies but muzzies are overruning europe and america
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK supremacist muzzies 2023.04.18 Germany Duisburg 0 3 An Islamist stabs three people at random in a gym i welcome supertard with random names such as eeee back and appoint him supertard on Thu, 8th Jun 2023 1:39 pm
his title is ‘the lover’ of supremacistmuzzies
ANAL CAPTURE SHOCK supremacist muzzies On This Day... Jun 08, 2017: Mosul, Iraq Women and children are eliminated with chlorine gas: 13 Killed on Thu, 8th Jun 2023 4:58 pm
elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS i welcome supertard with random names such as eeee back and appoint him supertard his title is ‘the lover’ of supremacist muzzies i also appoint supertard FamousDrScanlon supertard his title is ‘the lover’ of supremacist muzzies
elite whitey supertards allocated 164M for fighting supremacist muzzies but muzzies are overruning europe and america
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
ANAL CAPTURE SHOCK supremacist muzzies 2023.01.25 Germany Brokstedt 2 7 A 'confused' Muslim migrant stabs two teens to death on a train on Thu, 8th Jun 2023 10:26 pm
elite whitey (((supertard))) YouTuber HANK GREEN MUZZ-19 himself with reckless abandonment GOING TO SAINT PETERS i welcome supertard with random names such as eeee back and appoint him supertard his title is ‘the lover’ of supremacist muzzies i also appoint supertard FamousDrScanlon supertard his title is ‘the lover’ of supremacist muzzies
elite whitey supertards allocated 164M for fighting supremacist muzzies but muzzies are overruning europe and america
the number of elite whitey (((supertards))) who MUZZ-19 is grate
its gona be a holocaustianity
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
elite master race chink supertard worked for apple then stole technology
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
poppy mizzi on Mon, 3rd Jul 2023 2:58 am
Thank you for your willingness to share information with us. We shall be eternally grateful for everything you’ve done here since I know you genuinely care about us. retro bowl unblocked