Julian Lee

London

Oil Strategist at Bloomberg News

Oil Strategist at Bloomberg News. Any views expressed are my own. [email protected]

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Articles

Russia’s Tumbling Crude Flows Drag Export Values to Two-Year Low

3 days ago | news.bloomberglaw.com | Julian Lee

The value of Russia’s crude shipments fell again in the four weeks to June 1 as a sharp decline in exports offset the first increase in the price of Moscow’s key export grades in almost two months. Flows averaged 3.24 million barrels a day in the four weeks to June 1, tanker-tracking data compiled by Bloomberg show. That was down by 170,000 barrels a day from the period to May 25. The lower exports easily countered a small increase in prices during the period covered.
Russia’s Tumbling Crude Flows Drag Export Values to Two-Year Low

4 days ago | bloomberg.com | Julian Lee

Russia shipped 3.24 million barrels a day of crude in the four weeks to June 1. (Bloomberg) -- The value of Russia’s crude shipments fell again in the four weeks to June 1 as a sharp decline in exports offset the first increase in the price of Moscow’s key export grades in almost two months. Flows averaged 3.24 million barrels a day in the four weeks to June 1, tanker-tracking data compiled by Bloomberg show. That was down by 170,000 barrels a day from the period to May 25.
Russia’s Tumbling Crude Flows Drag Export Values to Two-Year Low

4 days ago | flipboard.com | Julian Lee

NowLondon CNN — President Donald Trump’s trade war will wreak greater economic damage than previously expected, both in the United States and everywhere else, according to new forecasts by the Organisation for Economic Co-operation and Development. In a report Tuesday, the group of 38 mostly wealthy …
OPEC Raises Oil Output as Group Begins Bumper Set of Increases

4 days ago | bloomberg.com | Grant Smith |Julian Lee |Bill Lehane

Pipes feed crude oil to a tanker at the Ras Tanura oil refinery in Saudi Arabia. (Bloomberg) -- OPEC raised oil production last month as the group began a series of accelerated increases spurred by Saudi Arabia, according to a Bloomberg survey. The 12 members of the Organization of the Petroleum Exporting Countries boosted supplies by 200,000 barrels a day in May to 27.54 million barrels a day, the survey showed. The Saudis accounted for about half of the increase.
The OPEC+ Production Boost May Have a Bigger Bark Than Bite

5 days ago | bloomberg.com | Julian Lee

Welcome to our guide to the commodities markets powering the global economy. Today, oil strategist Julian Lee assesses whether markets can absorb the production increases approved by OPEC+. Oil ministers from OPEC+ members agreed on another big increase in production targets for July. But is there room for those barrels without crashing prices?
OPEC+’s Real Oil Supply Hikes Could Be Less Than Advertised

1 week ago | bloomberg.com | Julian Lee

(Bloomberg) -- OPEC+ looks set to alarm oil bulls again on Saturday by adding another wave of supply to a global crude market that doesn’t seem desperate for extra barrels. In practice, as much as a third of the group’s advertised hike may not materialize and the amount that ultimately reaches the global market could be even less. Eight members of the producer group have agreed to add back a total 960,000 barrels a day of production by June compared with March levels.
Wert russischer Rohöllieferungen fällt auf Zweijahrestief

1 week ago | bloomberg.com | Julian Lee

Der Wert der russischen Rohöllieferungen — gemessen als Vier-Wochen-Durchschnitt — ist zum 25. Mai auf den niedrigsten Stand seit zwei Jahren gefallen. Laut den von Bloomberg zusammengestellten Tankerdaten wurden in den vier Wochen bis zum 25. Mai durchschnittlich 3,39 Millionen Barrel pro Tag ausgeliefert. Das waren zwar lediglich 10.000 Barrel pro Tag weniger als im Zeitraum bis zum 18. Mai. Der Bruttowert dieser Ladungen war jedoch der niedrigste seit April 2023.
Falling Russian Oil Prices Drive Exports’ Value to Two-Year Low

1 week ago | news.bloombergtax.com | Julian Lee

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Falling Russian Oil Prices Drive Exports’ Value to Two-Year Low

1 week ago | news.bloomberglaw.com | Julian Lee

The value of Russia’s crude shipments hit a two-year low in the four weeks to May 25 even as Moscow shrugged offa threat that the G-7 group of nations may tighten the price cap on the country’s exports. Flows averaged 3.39 million barrels a day in the four weeks to May 25, tanker-tracking data compiled by Bloomberg show. That was down by just 10,000 barrels a day on the period to May 18. But the gross value of those cargoes was the lowest since April 2023.
Falling Russian Oil Prices Drive Exports’ Value to Two-Year Low

1 week ago | bloomberg.com | Julian Lee

Russia shipped 3.39 million barrels a day in the four weeks to May 25, with exports worth the least in more than two years. (Bloomberg) -- The value of Russia’s crude shipments hit a two-year low in the four weeks to May 25 even as Moscow shrugged off a threat that the G-7 group of nations may tighten the price cap on the country’s exports. Flows averaged 3.39 million barrels a day in the four weeks to May 25, tanker-tracking data compiled by Bloomberg show.