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Short-term Global Oil Service
Weekly Fundamentals - Bulk of Russian barrels will continue to find a home despite fresh sanctions
Published: 16 January, 2025
Highlights:
- Bulk of Russian oil will continue to find a home despite fresh sanctions
- Impact dependant on sanctions being enforced – Only 450 kb/d of trade facing genuine issues
- Red Sea diversions to persist despite Gaza ceasefire
- Supply: IEA revises US January output down 400 kb/d due to winter storm
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