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Russian Seaborne Crude Shipments Rebounded

OIL

Russian seaborne crude shipments last week rose again to 3.51mbpd as of 15 October, up by 285kbpd from the prior, Bloomberg tanker-tracking data showed.

  • The four-week average rose to 3.36mbpd as of 15 October, compared with 3.26mbpd in the week to 8 October, and the highest level since 4 July.
  • Shipments from the Black Sea ports last week rose to the highest level in six weeks, while shipments from the Artic port of Murmansk also rebounded.
  • In line with Russia’s pledge to reduce shipments by 300kbpd compared with the May-June average, exports from the ports should now be at around 3.28mbpd.

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