Russia's Crude Exports Cling to Gains With Refineries Hobbled
Flooding and drone strikes on refineries likely help to keep flows elevated
Russia exported 3.66 million barrels a day of crude by sea in the four weeks to April 21.
Photographer: Ali Mohammadi/BloombergThis article is for subscribers only.
Russia’s seaborne crude exports maintained a multimonth high in the four weeks to April 21 as the country’s refineries struggled to recover from flooding and Ukrainian drone attacks.
Oil processing is near the lowest since May last year after floods forced the Orsk refinery offline, while runs at plants damaged by military strikes continue to lag normal levels, encouraging diversion of crude supplies into exports. The April loading program at the key Baltic ports has been revised to the highest since May 2023.