RE:RE:RE:RE:Russian Crude Oil Exports PlungeOne must follow the drop as it moves through the crude supply chain.
First you hear of it in Russian govt data releases as production cutbacks (just rumours). Check.
Next you see it confirmed in independent tanker traffic reports. Check.
Then you see it as reductions in import volume data (also opaque). Watching...
Next it is seen as inventory draws outside the US. Watching...
Then as the arbitrage pulls more crude into the global market from the US to compensate, it will be seen as drops in US inventories.
So until more data becomes clear as to how much it will reduce global supply going forward, crude prices will respond accordingly. It should support Brent first, which pulls up WTI. Meanwhile we slowly melt up, now to $81.50 currently.
Stay tuned.
vr6loco wrote: Can't always believe the numbers. China, Pakistan and India are taking in a lot of it, but also Saudi Arabia is taking it too. They mix it with their own and sell it to the Europe and the world.
How would we know any different?