Russia's Weekly Oil Exports Slump Back Down After Surge
Shipments in the week to Jan. 20 lost almost all the gain seen the previous seven days
Shipments from Russia’s Pacific ports, including Kozmino, slipped in the week to Jan. 20.
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Russia's seaborne crude exports fell back last week after surging in the previous seven days, contributing to the smallest inflow into the Kremlin’s war-chest since Moscow sent its forces into Ukraine.
Aggregate volumes of Russian crude slumped by 820,000 barrels a day, or 22%, to 2.98 million in the week to Jan. 20, giving up most of the previous week’s gain. The biggest drops were in flows from the Pacific ports, with smaller declines in Arctic and Black Sea exports. Baltic shipments were stable.