Drone strikes in the Black Sea have led to a 20% reduction in oil shipments from the Caspian Pipeline Consortium (CPC) terminal in July. Shipments fell to 1.2-1.3 million barrels per day, resulting in a loss of about 400,000 barrels of CPC Blend oil for the global market. The CPC pipeline, which transports oil from Kazakhstan to Novorossiysk, accounts for about 2% of global supplies. The majority of the oil is produced with the participation of companies like Chevron and ExxonMobil. Operations at the CPC terminal have been regularly halted since mid-July, and by early August, exports stand at 1.1-1.2 million barrels per day. Due to disruptions along the route, oil production in Kazakhstan has decreased by 14% compared to June. Kazakhstan has no alternative routes to redirect such volumes of crude.
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.





























