Russian Oil Flows Hold Fast Even as Kremlin Says Output Slashed
Seaborne crude exports remain above 3 million barrels a day for a sixth week
There’s little sign of Russia’s crude flow to foreign markets slowing, even as output cuts bite.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s seaborne crude flows are holding strong, meaning a pledge by the Kremlin to cut the nation's production sharply has yet to feed through into supplies to the international marketplace.
The nation’s shipments slid by 123,000 barrels a day to 3.11 million barrels a day in the seven days to March 24, according to tanker tracking by Bloomberg. The less-volatile four-week average dipped by a similar amount. It’s the sixth straight week they've held above 3 million a day.