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Russian Crude Exports Surge Last Week

OIL

Russia's seaborne crude exports soared last week to the highest level since April according to Bloomberg vessel tracking.

  • Aggregate volumes of Russian crude rose by 876,000 barrels a day, or 30%, to 3.8 million in the week to Jan. 13.
  • Baltic shipments were up by 626,000 barrels a day from the previous week, while those from the Black Sea gained by 47%.
  • The EU’s import ban on Russian crude has led to much longer voyages for shipments, with journeys now taking an average of 31 days from Baltic ports to India, compared with just seven days from the same terminals to Rotterdam and about half that to Poland.


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