Russian Oil Flows From Key Baltic Port Plunge Unexpectedly
- Traders are watching Russian oil flow closely after sanctions
- Russia has become increasingly guarded on oil-flow information
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Russian oil exports from the country’s second-largest export facility in the Baltic Sea have plunged unexpectedly in the past several weeks, a slump that adds to wider questions about the nation’s petroleum flows as Western sanctions ramp up.
Shipments from the port of Ust-Luga slumped sharply in the final two weeks of December, a period in which six out 14 scheduled cargoes failed to load. Russia then planned — and has so far exported — a much smaller amount this month than would be normal in January, port agent data and historical vessel tracking compiled by by Bloomberg show.