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Russia seaborne crude exports fall to lowest since May
Exports averaged 3.25 million barrels per day in the latest week, down from 3.5 million bpd a week earlier, as more crude was directed to recovering refineries.
Russia’s seaborne crude exports have fallen to their lowest level since May as recovering refinery runs pulled barrels back into domestic processing and attacks disrupted loading at key ports, according to OilPrice.
OilPrice cites vessel-tracking data compiled by Bloomberg showing Russia shipped 3.71 million barrels per day in the four weeks through August 9. Shipments averaged 3.25 million bpd in the latest week, down from 3.5 million bpd a week earlier.
The outlet said the decline came despite industry sources indicating Russian crude and condensate production rose by roughly 100,000 bpd in July to more than 9 million bpd, helped by stronger exports and a recovery in refinery throughput.
OilPrice attributed some of the export disruption to Ukrainian attacks shifting toward Black Sea tankers and storage facilities. It also noted Novorossiysk operated at roughly half its peak crude-loading rate after attacks on tankers near the port, with Baltic loadings at Ust-Luga running at about half the level seen two weeks earlier.
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