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Russian Crude Exports Slipping on Four-Week Average

OIL

Russia’s oil shipments have declined for five consecutive weeks according to Bloomberg vessel tracking, taking them down by 480,000 bpd or 13% since mid-June.

  • Shipments to China and India are down by somewhere between 15% and almost 40% from their post-invasion peak.
  • Asian countries, dominated by China and India, are still taking more than half of all the crude shipped from Russia, up from about one-third before the invasion.
  • Shipments to China averaged 810,000 barrels a day in the most recent four-week period, down from a revised 862,000 barrels a day in the four weeks ended July 15. Flows to India were 739,000 barrels a day, compared with a revised 757,000 barrels a day.

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Russia’s oil shipments have declined for five consecutive weeks according to Bloomberg vessel tracking, taking them down by 480,000 bpd or 13% since mid-June.

  • Shipments to China and India are down by somewhere between 15% and almost 40% from their post-invasion peak.
  • Asian countries, dominated by China and India, are still taking more than half of all the crude shipped from Russia, up from about one-third before the invasion.
  • Shipments to China averaged 810,000 barrels a day in the most recent four-week period, down from a revised 862,000 barrels a day in the four weeks ended July 15. Flows to India were 739,000 barrels a day, compared with a revised 757,000 barrels a day.

Keep reading...Show less