Russia Honors OPEC+ Commitments with Reduced Oil Exports

Russian crude oil exports by sea in the first week of 2024 were aligned with the level Moscow has pledged to maintain as part of the OPEC+ agreement, tanker-tracking data monitored by Bloomberg showed on Tuesday.    Russian crude oil shipments between January 1 and January 7 averaged 3.28 million barrels per day (bpd)—exactly 300,000 bpd below the observed exports by sea in May and June, which are used as reference levels for Russia’s promised reduction of 300,000 bpd of crude exports, according to the data…