Russia's Crude Deliveries Plunge as US Sanctions Begin to Bite
The amount of Russian oil held on tankers has risen by 8% since the start of September
Russia shipped 3.58 million barrels a day of crude in the four weeks to Nov. 2, with the amount of its oil held on tankers rising amid delays in offloading.
Photographer: Chris Ratcliffe/BloombergRussia’s seaborne crude shipments fell sharply, dropping by the most since January 2024, as the latest US sanctions led key buyers to shy away from Moscow’s oil. Cargo discharges have been hit even harder than loadings, with oil on the water surging.
Four-week average volumes from the country’s ports were 3.58 million barrels a day to Nov. 2, according to vessel-tracking data compiled by Bloomberg, down by about 190,000 from the revised figure for the period to Oct. 26. The average provides a clearer picture of underlying trends than more volatile weekly figures, which also sank.