November 11, 2022 12:16 GMT
Russian Crude Exports To Longer-Haul Destinations Increase
Russian crude exports to short-haul destinations have been decreasing since the start of the conflict in Ukraine and longer-haul exports are likely to pick up further in the coming months, amid sanctions, according to Vortexa.
- Between Jan 2019 and Feb 2022, 45% of monthly Russian crude exports were sent to the main short-haul destinations UK Cont, Baltic and Black Sea.
- Since the start of the conflict in Ukraine, short-haul exports fell to 20% amid sanctions.
- Longer-haul exports such as to China, India and Turkey have been increasing since February and are expected to increase further in the coming months, following the EU ban on Russian crude oil.
- Longer-haul exports will increase turnaround times, meaning a higher number of vessels will be required.