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Russian Seaborne Crude Exports Dipped on Weather, Ust Luga


Russia’s seaborne crude shipments in the four weeks to 21 January stood at 3.36mbpd, down by 50kbpd from a week earlier due to weather delays and the drone attack on one of the country’s export terminals, Bloomberg tanker tracker data showed.

  • Exports declined last week due to bad weather some Russian ports and a Ukrainian drone strike on a condensate processing facility adjacent to the Ust-Luga crude export terminal, which briefly interrupted loading on Sunday, pushing one ship into the following week. Port maintenance and bad weather could further weigh on shipments this week.
  • Weekly seaborne crude shipments declined by 340kbpd to 3.02mbpd, the lowest in seven weeks.
  • Crude shipments to Asian customers, including those showing no destination, edged higher to 3.03mbpd in the four weeks to 21 January, up from 2.98mbpd the week prior.
  • Seaborne shipments to China stood at around 1.19mbpd during the period, while shipments to India stood at 990kbpd.
  • Russia pledged to reduce its crude oil exports by 300kbpd vs the May-June 2023 average.

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