Russian oil export slump creates ripples in the tanker market
Russia has announced a drop in oil exports in August to support the oil price, and the country’s export volumes already fell in July. This will trigger major changes in demand and buyer countries.
by DAG HOLMSTAD
Russia and President Vladimir Putin have decided to cut crude oil exports in July and August, and this, together with lower capacity at Indian oil refineries, is sending ton-mile demand down in the tanker market.
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