Russian Oil Exports’ Value Crimped Again by Latest Price Slide
Earnings from crude shipments remain near two-year low despite uptick in flows
Russia shipped 3.42 million barrels a day of crude in the four weeks to May 11.
Photographer: Carsten Snejbjerg/BloombergRussia’s oil prices fell for a fifth week, leaving the value of the nation's shipments close to a two-year low and largely negating the impact of a gain in crude sales.
Total flows in the four weeks to May 11 were worth about $4.09 billion, edging up from the period to May 4 but still the second-lowest since April 2023. Export prices for key grades shipped from the Baltic, Black Sea and Pacific regions all registered further declines.