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Russian Weekly Oil Exports Drop 26% as Buyers Look Elsewhere

  • Exports slid to 3.63m b/d in week of March 17-23: data
  • Many buyers are seeking alternatives to Russian energy
Updated on

Russia’s oil exports shriveled by more than a quarter in the week March 17-23 compared with the prior week, according to industry data.

The country’s average daily shipments reached 495,300 tons, down 26.4% from the week before, according to figures seen by Bloomberg. That’s equivalent to about 3.63 million barrels a day.