Russia’s Crude Shipments Stick to Cut Even as Price Cap Crumbles
Shipments in line with pledge to reduce crude flows from early summer level
Russia sticks to export levels
Photographer: GLYN KIRK/AFPThis article is for subscribers only.
Russia’s seaborne crude exports slipped back from a 13-week high in the seven days to Oct. 8, keeping four-week average flows in line with the export cut that Moscow pledged to maintain until the end of the year.
About 3.23 million barrels a day of crude was shipped from Russian ports last week, a decline of about 490,000 barrels a day from the previous seven days, tanker-tracking data monitored by Bloomberg show. That reduced the less volatile four-week average to about 3.26 million barrels a day.
The drop came after record-equaling shipments from the Arctic port of Murmansk in the previous week were not sustained.