Bloomberg: Russia’s Crude Oil Exports Fall to Lowest in a Month
Russian crude oil supplies to foreign markets have fallen to a monthly low, the agency reported. Bloomberg.
According to the data, in the four weeks before September 1, the average volume of exports of this hydrocarbon fell to 3.16 million barrels per day. Daily shipments of crude oil by sea fell by about 250 thousand barrels to 3.1 million.
Shipments to Asia, including those with no final destination, fell to 2.96 million barrels per day in the four weeks to Sept. 1, down about nine percent from the average seen in April.
Related materials:
During the period, tankers bound for China loaded about 1.19 million barrels of crude per day, while similar shipments to India averaged 1.66 million barrels per day.
The publication recalls that Russian seaborne exports of crude oil to European countries have ceased. Exports to Bulgaria stopped at the end of 2023. In addition, Moscow lost about 500,000 barrels per day of pipeline exports to Poland and Germany. Supplies to Hungary and Slovakia, which go through Ukraine via the Druzhba pipeline, were also disrupted due to Kyiv banning the transit of crude oil.
The gross value of crude oil exports from Russia fell in the seven days to September 1 from $1.62 billion to $1.52 billion.
At the end of August, Bloomberg reported that despite Ukrainian sanctions against Lukoil, Russian oil supplies via Ukraine had not decreased. It turned out that the lost volumes were made up for by another supplier, Tatneft. As a result, in July, Russia exported 436 thousand tons of oil to Hungary and 356 thousand tons to Slovakia. This corresponds to the standard volume of supplies.
#scale #decline #Russian #crude #oil #exports #calculated
