Posted on 12/08/2022 6:15:39 PM PST by dennisw
Russia's oil exports have plunged amid the latest round of western sanctions. According to data from Kpler, Russian seaborne oil shipments fell 16% on Tuesday. Russia's central bank has called the sanctions "new economic shocks" that could derail the economy. Russia's oil exports have plunged amid the European Union's price cap on Russian crude and the latest round of sanctions, squeezing revenues for Moscow's wartime economy.
According to data from the analytics firm Kpler, Russia's seaborne oil shipments fell by 16%, or about half a million barrels per day on Tuesday this week. TankerTrackers.com, another analytics site, recorded an even steeper 50% drop in daily barrel shipments, largely due to a fall in shipments headed Russia's Black Sea and Baltic ports, which transfer oil to Europe, the Wall Street Journal reported.
The decline comes shortly after the EU ban on Russian seaborne oil imports kicked into effect and the $60 price cap on Russian oil was imposed. It's a promising sign that the latest round of sanctions have taken an toll on Moscow's war revenue, despite concerns from industry experts that western nations had no way to fully enforce a price cap mechanism, and the measure would fail to have a meaningful impact on energy pricing.
Europe's energy crisis, kick-started by Russia's invasion of Ukraine and deepened by Western sanctions, has left Germany, France, and others fretting over supply shortages this winter.
Dutch wholesale natural-gas prices, the European benchmark, skyrocketed to a record high of nearly 335 euros, or $341, per megawatt hour in the spring of 2022, per Reuters. Since then, prices have fallen back to about 225 euros per megawatt hour — still a jump of about 300% since the start of 2022.
(Excerpt) Read more at msn.com ...
Putin is going to push a button.
I learned a new word.
Not much of an impact now that the United States is leading the world in oil production at 12.2 million barrels per day.
Russia gonna be real broke real soon
remind us again, the reason why they had to start this war and wreck their entire country is ...?
Headline this week: Russia is building a massive, 50 billion cubic meter gas pipeline to China
Russian nat gas exports to Europe were 155 billion cu metres / year before Feb. 23rd
so it’s a nice pipeline, but Russia is still losing 2/3 of what it used to sell to Europe
good ... starve the Russian War Machine
I doubt Kpler is tracking the 100 oil freighters bing used by third parties shipping Russia’s oil...nor the Europeans bringing it in the backdoor.
So who is making up the shortfall? Less supply leads to higher prices.
Idiot Putin started the war on Ukraine because he was bored. Because as an ersatz Tsar, he had nor achieved enough Tsarist glory for the history books. Pooty the Pathetic has a hard on for Peter The Great, and he knew he was one tenth the man.
The Chinese Communist Party would like to thank the EU for the cheap Russian oil.
“The Chinese Communist Party would like to thank the EU for the cheap Russian oil.”
Oil is down to about $72 per barrel. How much money is Russia making when it’s selling China and India oil at a 30% discount? Pukin’ Putin is bad for business, so will be dead or deposed within months
Going to be a cold winter for the Europeans.
Not for the wealth sovereigns governing Europe of course.
sure
The break even price for a barrel of Russian oil varies widely between the producers. It is very roughly at $44 a barrel.
May it get worse and worse for evil putin
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