Export of Russian oil by sea decreased by 22% in December
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The introduction of oil sanctions against Russia led to a decrease in exports by sea by 22%. According to the analytical company Kpler, the average daily rate fell to 2.5 barrels. The Wall Street Journal.
Analysts attribute this to the EU embargo that came into force, as well as to the price ceiling introduced by the EU, the G7 and Australia. Kpler specialist Matt Smith believes that the reduction may also be due to “severe weather conditions” and lower demand in China amid coronavirus restrictions.
Russian authorities expectAccording to the results of the year, oil exports will grow by 7.5%, to 242 million tons. Refining will decrease by almost 3%, gasoline production will increase by 4%, diesel – by almost 6%.
Oil sanctions against Russia came into force on December 5. Russia answered them this week. President Vladimir Putin has banned Russian oil companies from the beginning of February 2023 from selling oil under contracts that directly or indirectly contain a “limit price fixing mechanism” for Russian raw materials. The ban has so far been introduced for oil, but will also apply to petroleum products, which will be subject to a price ceiling and an EU embargo from February 5.
About the response of the Russian Federation – in the material “Kommersant” “The ceiling is not a decree for them”.
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