Russian oil surplus pressures global prices and funding
after close1 source ↓written by the desknot a recommendation
- since August
- 28%
- shipment
- 3.68 million barrels
Russia is experiencing a record oil surplus at sea, with shipments increasing by 28% since August. This has led to an on-water surplus reaching its highest level in two and a half years, impacting global prices and reducing Moscow's war financing capabilities. The average daily shipment is now 3.68 million barrels.
This situation may lead to lower global oil prices as the surplus weighs heavily on the market, affecting traders' sentiment.
Not investment advice. For informational purposes only.