Russian Oil Exports Are Forced on Longer Voyages to Find Buyers
- Shipments from Russian ports jumped in week to April 8
- Asia starting to compensate for European reluctance to buy
Rail wagons for oil cargo stand in sidings at the RN-Tuapsinsky refinery in Tuapse, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s crude oil exports, a key source of revenue for Vladimir Putin’s regime, are showing no signs that they are starting to crumble amid the disappearance of European buyers.
Shipments in the seven days to April 8 continued a rebound that began the previous week, after consistently falling since Russia’s Feb. 24 invasion of Ukraine. That’s according to Bloomberg News’s first tracker of all crude leaving the country’s export terminals on ocean-going tankers.