HomeMediaLatest NewsBloomberg: ExxonMobil and Shell have begun to abandon the tankers, were carrying Russian oil

Bloomberg: ExxonMobil and Shell have begun to abandon the tankers, were carrying Russian oil

21 December 2022

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented to Business FM on the possible reasons for the sharp reduction, according to Bloomberg, of Russian oil supplies after the introduction of the "price ceiling".

"Bloomberg estimates are precisely estimates, no one sees the full picture now, since a significant part of the supplies is out of sight of both price agents and other analytical organizations. So far, we are talking only about data for the first week after the introduction of the price ceiling, indeed, there was a sharp reduction in the departure of tankers from Russian ports in the Black and Baltic Seas, Nakhodka also had its own problems with the supply of ESPO, a grade that is significantly more expensive than Urals. But we don't know how long this trend will last. Judging by the weekly data, it is difficult to judge any serious trends, here you need to understand, still rely on some average monthly statistics, that is, the overall picture will be clearer closer to the beginning-middle of January. But, of course, this is an alarming signal, although partly expected. In addition, the uncertainty factor still plays a very important role. The rules were determined at the very last moment, and so far not everyone has been able to fully realize how ready they are to work according to these rules. This applies to transport companies and insurance companies, partly to buyers and suppliers."

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