Black Sea Storms Batter Russian Crude Exports to Three-Month Low
No Russian crude was shipped from the Black Sea in the week to Dec. 3
Storms left tankers unable to load from Russia’s Novorossiysk oil terminal
Photographer: Glyn Kirk/AFP/Getty Images
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Russia’s four-week average seaborne crude exports fell to the lowest in three months, with storms in the Black Sea disrupting shipments for a third week. Loading activities remained sluggish at the port of Novorossiysk even after they restarted on Nov. 30.
About 3.04 million barrels a day of crude were shipped from Russian ports in the four weeks to Dec. 3, tanker-tracking data monitored by Bloomberg show. That was down by 125,000 barrels a day from the revised figure for the period to Nov. 26. The more volatile weekly average also fell.