Russia has increased seaborne oil shipments to their highest level in more than a month as the impact of previous Ukrainian drone strikes on export infrastructure eases.
This is reported by Bloomberg.
According to monitoring platforms, in the four weeks to April 26, seaborne exports of Russian oil rose to 3.52 million barrels per day — the highest in just over a month.
Over the past week, the figure has risen to 3.79 million barrels per day, the highest level since March 22. At the same time, the volume of oil on tankers that have been idle for more than a week has decreased to less than 5 million barrels.
At the same time, the increase in exports led to an increase in oil volumes at sea — to about 114 million barrels, compared to almost 100 million two weeks earlier.
Analysts also note that some of the oil previously processed at damaged refineries is now being exported. In addition, the number of shipments to India is increasing, with at least 10 shipments of ESPO oil loaded in April heading there.
Russian oil prices also began to decline. In particular, Urals from the Baltic Sea fell by about $0.10 to $98.41 per barrel, and from Black Sea ports to $96.67.
- In March, Reuters wrote that amid the escalation of the war in the Middle East and the virtual closure of the Strait of Hormuz in April, Russiaʼs oil revenues will double and reach $9 billion.
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