I wrote – Marwa Al Ghoul
Saturday, April 15, 2023 02:00 PM
registered Oil prices 86.31 dollars a barrel for Brent crude futures contracts, and US West Texas Intermediate crude futures recorded 82.52 dollars, as oil prices achieved their fourth consecutive weekly gain.
The International Energy Agency report stated that Russian oil exports reached in March 2023 their highest level since April 2020 in physical terms due to the increase in supplies of petroleum products, while export revenues increased by $1 billion compared to February to $12.7 billion.
The agency said that Russia’s supplies by sea grew by 0.6 million barrels per day to reach 8.1 million barrels per day, adding that shipments of petroleum products rose by 450,000 barrels per day on a monthly basis to 3.1 million barrels per day, according to the Russian agency TASS.
The International Energy Agency also indicated that revenues Russia of oil exports increased $1 billion in March, but decreased by 43% in annual terms.
Russia cut crude production (excluding gas condensate) by 270,000 bpd to 9.58 million bpd in March, with production 900,000 bpd below plan, according to the agency. However, Moscow announced a production cut of 500,000 barrels per day from the February average that began in March.
The Office of Fisheries and Water Resources in the Philippines announced today, Saturday, that the volume of losses resulting from the oil spill off the province of “Mindnao Oriental” exceeded one billion Philippine pesos.
And the Philippine “ABS-CBN” network stated that the slick that leaked from the oil tanker last February destroyed 441 million Philippine pesos worth of fishing equipment and products, adding that the authorities analyze samples of water and marine life periodically to review decisions to prevent fishing and submit Social assistance for its workers, cleaning and disinfection operations, and protecting citizens from dangers.
The Ministry of Development and Social Welfare announced a few days ago that nearly 37,000 families were affected by the oil spill.
A tanker carrying 800,000 liters of industrial fuel sank last February 28 while sailing in harsh conditions, and purification work has been continuing with international assistance since then.
