Russian Oil Flows Stall as US Sanctions Start to Buffet Tankers
A decline in shipments in the seven days to Jan. 19 kept four-week flows below 3 million barrels a day for a fourth week
Russia shipped 2.94 million barrels a day of crude in the four weeks to Jan. 19 after a sharp drop in flows last week.
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Russia’s seaborne crude exports saw their biggest drop since November last week after outgoing US President Joe Biden imposed sweeping sanctions on the country’s oil trade, with early signs that the measures are reshaping flows.
The slump kept the less volatile four-week average below 3 million barrels a day for a fourth week and close to a recent 16-month low, according to vessel-tracking data compiled by Bloomberg.