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Russian Crude Exports Slip in September

OIL

Russian crude exports averaged 2.99 million b/d in September, down 290,000 b/d on August levels and the lowest since September 2021 according to Platts vessel tracking.

  • Russian flows to the Netherlands fell to 165,000 b/d in September, down from 390,000 b/d in August.
  • Russian crude cargoes bound for Europe have now sunk below 1 million b/d, down from pre-war levels of 1.5 million b/d.
  • Russian exports to Turkey rose 19% in September to a record 414,000 b/d. It is the third largest buyer of Russian crude behind China and India.
  • China and India bought 60% of Russian exports in September, up from 54% in August. Flows to China dipped by 76,000 b/d on the month but Indian imports rose by 60,000 b/d to average a combined 1.77 million b/d.

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Russian crude exports averaged 2.99 million b/d in September, down 290,000 b/d on August levels and the lowest since September 2021 according to Platts vessel tracking.

  • Russian flows to the Netherlands fell to 165,000 b/d in September, down from 390,000 b/d in August.
  • Russian crude cargoes bound for Europe have now sunk below 1 million b/d, down from pre-war levels of 1.5 million b/d.
  • Russian exports to Turkey rose 19% in September to a record 414,000 b/d. It is the third largest buyer of Russian crude behind China and India.
  • China and India bought 60% of Russian exports in September, up from 54% in August. Flows to China dipped by 76,000 b/d on the month but Indian imports rose by 60,000 b/d to average a combined 1.77 million b/d.