Russia’s Seaborne Crude Exports Drop Ahead of OPEC+ Meeting
Four-week average flows were down for a third straight week
Russia shipped 3.38 million barrels a day in the four weeks to May 26.
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Russia’s four-week average crude exports fell for a third week, with shipments hitting a two-month low before a virtual meeting of the OPEC+ producer group to be held on Sunday.
Increased flows from the country’s Pacific ports were more than offset by lower volumes from the Black Sea and the Arctic. Cargoes from Russia’s Baltic ports were unchanged week on week, but are scheduled to drop this month compared with April.