Russia’s Seaborne Crude Flows Slump to the Lowest Since January
Four-week average shipments dropped below 3 million barrels a day
Russia’s seaborne crude drops to its lowest since January.
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Russia’s seaborne crude flows in the four weeks to July 30 fell to the lowest since early January, shortly after a European Union import ban and a wider price cap on the country’s exports came into effect.
Four-week average shipments dropped to 2.98 million barrels a day, the smallest since the 28-day period ending Jan. 8 and down by more than 900,000 barrels a day from the peak seen in mid-May. More volatile weekly flows rose, with record-equaling shipments from the Arctic.