- Russian crude oil flows to international markets remain elevated despite Kremlin's pledge to cut output.
- Seaborne shipments fell for the first time in six weeks to 3.64 million barrels a day.
- Four-week average flow dropped as the abnormally high figure for the week ending April 30 dropped out of the calculation.
- Russia continues to stress its commitment to the OPEC+ producer group.
- Russian refineries have cut their crude processing in May to prepare for summer demand.
Russian Oil Flows Stay High Three Months Into Pledged Output Cut
Seaborne exports dip but remain 270,000 barrels a day higher than February, the baseline for output reduction
Julian Lee
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