Russia’s Seaborne Crude Flows Drop to the Lowest Since January
Shipments fall by more than 1 million barrels a day from their mid-May peak
Just one tanker loaded Russian crude in the Black Sea last week. TKTK {Does this imply that it’s the tanker in the photo? It’s not}
Photographer: Marcelo del Pozo/BloombergThis article is for subscribers only.
Russia’s seaborne crude flows fell to their lowest since January after an unexplained slowdown at the Black Sea port of Novorossiysk, while the nation pledges to restrict its oil exports.
Average nationwide shipments in the four weeks to Aug. 20 dropped to 2.84 million barrels a day, tanker-tracking data compiled by Bloomberg show. That’s about about 1.05 million barrels a day below the peak in mid-May. More volatile weekly numbers also fell sharply, dropping to their lowest since December.