Russia’s Crude Shipments Hold Steady While Flows to India Slump
China resumed its position as the biggest importer of Russian seaborne crude in January
Russia shipped 3.27 million barrels a day of crude in the four weeks to Feb. 1, but it may be about to lose a key market in India.
Photographer: Ali Mohammadi/BloombergRussia’s crude shipments are holding steady even as pressures intensify on the country’s critical oil trade. China is once again the biggest buyer of Moscow’s barrels as its purchases rise while flows to India plunge to the lowest in more than three years.
Volumes averaged 3.27 million barrels a day in the four weeks to Feb. 1, according to vessel-tracking data compiled by Bloomberg. That’s up slightly from the revised figure for the period to Jan. 25, but down by about 600,000 barrels a day from the pre-Christmas peak.