Russian Oil Earnings Slide as Waning Prices Counter Higher Flows
The value of Russia’s crude exports has plunged by almost 30% since the end of June
Russia shipped 3.21 million barrels a day of crude in the four weeks to Sept. 15.
Photographer: Jeremy Suykur/BloombergThis article is for subscribers only.
A further slump in weekly average oil prices more than offset a small increase in flows from Russian ports, intensifying pressure on Moscow as it grapples with a weakening global market.
Four-week average crude volumes rose to 3.21 million barrels a day in the week to Sept. 15, up by 80,000 barrels a day compared with the previous period. Weekly flows, which are more volatile, also increased, rising by about 110,000 barrels a day.