Russia Boosts Oil Exports as Value Spikes to Ukraine-War High
Value of shipments hit the highest since the conflict began on higher flows, prices
Russia shipped 3.66 million barrels a day of crude in the four weeks to May 3, with the increase boosting inflows to the Kremlin’s Ukraine war chest.
Photographer: Carsten Snejbjerg/BloombergRussia saw the value of its oil exports jump to the highest since the Kremlin launched its full-scale invasion of Ukraine in February 2022, driven by rising flows and elevated prices triggered by the war in Iran.
Four-week average crude flows rose to the highest since December, gaining for a second week as the impact of earlier Ukrainian drone strikes on key export ports continues to fade. The value of shipments averaged a post-invasion high of $2.42 billion a week in the period to May 3.