-
Russian crude exports are rising despite pledge to cut, helping keep oil prices in check
Russia may be helping fuel the steady decline of global oil prices, despite Moscow's commitment to limit its exports. Crude oil shipments from the OPEC+ member's western port have risen since September, according to E.A. Gibson Shipbrokers data cited by the Wall Street Journal reported. That coincided with a nearly 13% slide in Brent crude.The international benchmark now trades at around $82 a barrel, despite earlier forecasts that it could reach $100. And even the latest report from OPEC on Monday also appeared to acknowledge the increase in crude flows. While it said refined product exports are down, the oil cartel ... (full story)