Russia Boosts Pacific Oil Cargoes as Year of War Reshapes Flows
Record volumes of crude were exported from Russia’s Pacific terminals last week
Russia’s Kozmino oil terminal is getting busier.
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A year on from Russia’s invasion of Ukraine, Moscow’s seaborne crude exports held close to the highest levels seen since its troops crossed the border, with record volumes leaving its Pacific ports.
The country’s shipments rose marginally to 3.63 million barrels a day from its ports in the seven days through Friday, a level that has been surpassed just four times since the start of 2022. The less-volatile four-week average also gained, before a 500,000-barrel-a-day production cut that's due to come into effect from Wednesday in response to Western embargoes and price caps on Russian oil cargoes.