Russia’s Seaborne Crude Exports Plunge to a Two-Month Low
Exports fall as fewer cargoes are shipped from key Baltic ports
Russia’s seaborne exports fell to 3.24 million barrels a day in the week to May 12.
Photographer: Jeremy Suykur/BloombergThis article is for subscribers only.
Russia’s crude flows dropped to an eight-week low in the seven days to May 12, with fewer vessels leaving the major ports of Primorsk and Ust-Luga on the Baltic coast and from Murmansk on the Arctic. The four-week average also fell, dropping by the most in 10 weeks.
Shipments from the Baltic terminals, which were in line with a partial loading program for May seen by Bloomberg, may reflect deeper output cuts promised by Moscow to its partners in the OPEC+ group of oil producers.