Russia's oil exports likely to remain robust, despite official predictions

Eugene M. Khartukov World Energy Analysis & Forecasting Group Moscow Russia's crude oil balance [237,465 bytes] It is widely known that the recent efforts of the Organization of Petroleum Exporting Countries to jack up world oil prices have been backed by some non-OPEC oil exporters. Among the latter is Russia, whose government promised to curtail the country's second-quarter crude oil exports by 100,000 b/d. Although the widely advertised self-imposed reduction is well within the typical seasonal swings of Russia's crude oil exports to markets outside the former Soviet Union, the move was well accepted by the market and has ev...

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