December 30, 2023 [The Economic Times]-Russia’s oil processing in the past week remained close to its highest daily refining runs in more than eight months amid decreased seaborne exports.

Russia’s oil processing in the past week remained close to its highest daily refining runs in more than eight months amid decreased seaborne exports.

The nation’s refineries processed around 5.65 million barrels of crude a day from Decemner 14 to 20, according to a person with knowledge of the matter. That’s down some 50,000 barrels a day, or 0.88%, from the previous seven days, when average daily refinery runs reached the highest since early April.

The pledge on export cuts comes on top of voluntary output curbs of 500,000 barrels a day from March 2023 through 2024.

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