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Russian Oil Flows Tick Higher as Moscow Pivots From Export Curbs
Russia’s crude exports edged higher in the week to May 19, as Moscow prepares to replace a ceiling on overseas shipments with a production limit favored by its OPEC+ partners. An increase in cargoes from the country’s Baltic and Arctic terminals was mostly offset by a dip in flows from the Pacific oil ports, and the less volatile four-week average slipped for a second straight week. Russia’s exports goal for this month is more accommodating than April’s, as the Kremlin moves away from curbs on overseas shipments andtransitions to the deeper output cuts that will bring it into line with its peers next month. ... (full story)