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Russia increases oil exports by sea – media

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Currently, the volume of Russian oil supply at sea is more than 1.2 million barrels higher than by the end of 2022.

Russian oil shipments to the seas are growing, and there are no signs of a reduction in production. Bloomberg writes about it.

In four weeks, the amount of oil transported at sea reached almost 4 million barrels per day. Compared to the first week of April, the number increased by 15%. With almost all of Russia’s oil going to China and India, shipments to Asia also rose to a new peak.

Since March, Russia has pledged to cut oil production by 500,000 barrels per day (bpd) from January levels. However, according to the publication, the supply of Russian crude oil to international markets continues to grow. Deliveries are more than 1.2 million b/d higher than at the end of 2022.

The total volume of oil on tankers bound for China, India, Turkey, as well as on tankers with an unspecified final destination, rose to a maximum of 3.81 million b/d since the beginning of last year in four weeks .

On average, from April 22 to May 19, Russian crude oil deliveries to European countries fell to 63,000 bpd. The only destination where oil is delivered from Russia is Bulgaria. Russian oil was not sent to the Nordic countries.

Oil from Russia, according to Bloomberg, was transported by a total of 35 tankers. From May 12 to May 19, 26.7 million barrels were delivered, which was 4% lower than the previous indicated period of the week. Russian oil deliveries from Novorossiysk fell to 334,000 barrels per day.

It was previously reported that Russia’s oil supply would remain unchanged. Its exports in April 2023 increased after the invasion of Ukraine – up to 8.3 million barrels per day. Russian oil is still supplied to European Union countries, but only through diesel fuel from India.

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Source: korrespondent

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