Russia’s Oil Trade Is Starting to Show Signs of Clogging Up
- Ships laden with fuel float off Europe, Africa, Latin America
- Tankers bounce between Chinese ports after loading Russian oil
Source: Bloomberg
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Across the world, there are increasing signs that the smooth flow of Russian petroleum is starting to get snarled.
Even after the world’s main oil forecasting agency said output could fall by 30%, exports from the OPEC+ producer have so far been resilient as the sanctions, along with price caps on Russian oil, were intended to keep the flow going. However, cargoes are now starting take longer in finding homes.