Oil at Sea Surges in Fresh Sign of Russian Flows Going Farther
- Longer voyages boost volume on tankers by 230 million barrels
- Moscow diverting larger quantities to non-EU states, UBS says
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The volume of crude oil on tankers at sea jumped to the highest since 2020, the latest demonstration of how Russian crude is sailing longer distances to new buyers.
Oil on water — the volume of crude sailing to a destination or floating idle at sea — rose to 1.27 billion barrels last week, according to Vortexa Ltd. data.