OPEC+ Mid-Month Update - Two Words: Holy Sh*T

I had to do a double-take when I was going through these numbers. This is just a mid-month update so the figures are likely going to be different. But it's important to know that if crude exports are this low for the 1st half of the month, the 2nd half will have to be startling higher to make up the delta.

First of all, according to Kpler, the first 15 days of August are showing a dramatic drop in crude exports from OPEC+.

Most of this decline is coming from Russia.