Russia’s Seaborne Flows of Crude Oil Climb to a New High
The volume leaving Russia on tankers has risen by 10% since early April
Russia’s seaborne crude flow is up 10% since early April
Source: DEA / C. SAPPA/De Agostini EditorialThis article is for subscribers only.
Russian crude oil flows to international markets continue to rise, even as the country insists it is slashing production.
Four-week average seaborne shipments, which smooth out some of the volatility in weekly numbers, rose again in the period to May 12, as they have in four of the past five weeks. Flows are now up by 10% since the first week of April and hit a new high for the period 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 reached a new peak.