Page 92 - RusRPTApr23

The discount for the Russian Urals oil blend in Northwestern European ports in February increased by $1.31 against January and stood at $35.72 per barrel, OPEC estimated.
The Organization of the Petroleum Exporting Countries (OPEC) expects that global oil demand growth can reach 2.3mn barrels per day (bpd) in 2023, according to the organisation’s March report.
Thus, the indicator remained unchanged compared to the previous assessment. In absolute terms, oil demand can average 101.9mn bpd in 2023.
The organisation also maintained its non-OPEC liquid hydrocarbons production growth forecast in 2023 at 1.4mn bpd. In absolute terms, the figure may reach 67.2mn bpd.
Russia's exports of nickel and articles made therefrom soared by 190% in 2022 compared with 2021 to $5.8bn, according to the Federal Customs Service.
Exports of copper and articles made therefrom rose by 16.7% in the reporting period to $7bn, whereas exports of aluminium and articles made therefrom added 7% to $9.2bn.
Russia’s exports of ferrous metals fell by 15.2% to $24.5bn while exports of articles made therefrom gained 8.8% to $4.3bn.
Russia's exports of food and agricultural stock (excluding textile) grew by 14.8% in 2022 compared with 2021 to $41.3bn, according to the Federal Customs Service.
Meanwhile imports of those products gained 4.9% in the reporting period to $35.7bn.
Total turnover of food and agricultural stock added 10% last year to almost $77bn.
Russia was by far the biggest exporter of grain in 2022.
92 RUSSIA Country Report Russia April 2023 www.intellinews.com