Russia’s Oil Flows Slide as Drone, Storm Alerts Disrupt Key Port
Only one Russian crude cargo was loaded at Novorossiysk on the Black Sea last week
Russia shipped 3.64 million barrels a day of crude in the four weeks to May 10, driven lower by a drop in Black Sea flows.
Photographer: Carolina Cabral/BloombergRussia’s crude exports from its Novorossiysk port on the Black Sea tumbled last week, dragging down overall shipments and denting flows into the Kremlin’s Ukraine war chest.
Four-week average crude flows were propelled down by the first drop in weekly shipments since March, with just one crude tanker leaving Novorossiysk in the seven days to May 10. On this basis, exports averaged 3.64 million barrels a day, down from 3.68 million in the 28 days to May 3.