Russian Oil Stuck at Sea Booms as Tanker Logjams in Asia Expand
The amount of Russian oil on the water has swelled by almost 50% since the end of August
Russia shipped 3.87 million barrels a day of crude in the four weeks to Dec. 21, the most since May 2023.
Photographer: Marcelo del Pozo/BloombergRussia’s crude exports hit the highest in over 2 ½ years, but delays in offloading cargoes saw another jump in oil held on tankers, with a build-up of vessels anchored off the coasts of India and China.
While four-week average flows climbed to the highest since May 2023 in the period to Dec. 21, delivering cargoes remains a challenge, with the amount of oil at sea jumping 48% since the end of August. At least 20 tankers hauling Moscow’s crude are awaiting permission to dock at Chinese and Indian ports, while others have taken months to deliver their cargoes.