Russia’s Oil Flows Reach New High as Output Cuts Fail to Show
Four-week average crude shipments continue to rise even as Russia insists it’s cutting production
Photographer: Glyn Kirk/AFP/Getty Images
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Russian crude oil flows to international markets show little sign of ebbing even as Moscow’s threatened output cut stretches into a third month.
Four-week average seaborne shipments, which smooth out some of the volatility in weekly numbers, rose in the period to May 5 to the highest since Bloomberg began tracking them in detail at the start of 2022. With almost all Russia’s crude going to China and India, volumes to Asia also hit a new high.