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Small Gain in Russian Oil Sales Can't Reverse Grinding Downtrend

Combined flows to China, India, Turkey hit lowest since October 

Sanctions are crimping Russia’s crude flows

Sanctions are crimping Russia’s crude flows

Photographer: Andrey Rudakov/Bloomberg

Russia's oil exports made a small gain last week, but not by enough to prevent what appears for now to be a downtrend in the nation's shipments to a diminished group of buyers.

Aggregate flows of Russian crude rose by 197,000 barrels a day, or 8%, in the seven days to Jan. 6. Pacific shipments were up by 200,000 barrels a day from the previous week, while those from the Arctic gained by 143,000 barrels a day, more than offsetting a decline in volumes leaving the Black Sea.