Russia's crude production decline slows in September as exports rise
Summary
Russia's crude production decline slowed in September as the country increased its overseas oil shipments, according to OPEC. Despite this uptick in exports, Russian refiners continued to experience ongoing operational pressure during the same period, highlighting the challenges faced within the refining sector.
Analysis
Russia: Russia is a major global oil producer and exporter as well as a key participant in OPEC+. The country’s crude production decline slowed in September as shipments to overseas markets increased. Its refining sector has continued to operate under sustained pressure. Oil Exports: Russia ramped up overseas shipments of crude oil in September. Refining Sector: Russian refiners faced ongoing operational pressure during the same period.
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macropolitics