Russian Urals waterborne crude flows resilient and Baltic distillate exports buoyed

Oil prices had the biggest weekly decline since November 2021 in the week ending 11 March. It was another volatile trading week, marked by embargoes on Russian oil imports and discussions around potential supply additions from Iran, Venezuela and OPEC members, led by the United Arab Emirates. Trade flows will change as Russian crude oil and refined products increasingly need to clear to non US and European destinations. Our proprietary WoodMac datasets mean we can monitor Russian crude and product flows in near-real-time. These live datasets track current and future flows, showing how they adjust to tightening sanctions. Wood Mackenzie's Vesseltracker's AIS network delivers the world's best transparency and insight into global vessel movements and activities. Combined with Wood Mackenzies oils and refining industry experts, we can correctly estimate true volumes of both crude and refined product flows, to deliver unrivalled insights and forecasts.