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Oil exports from Russia fell to a 19-year low

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Oil exports fell in July not only to Russia, but also to Brazil, Venezuela and Qatar. However, Saudi Arabia and the United States have risen.

In July, Russian oil exports from the main western ports of the Russian Federation fell to the lowest level in the last 19 months, Bloomberg reports.

“Russian crude oil exports from major Western ports fell to a 19-month low in July, compounding the trend of a general decline in the flow of oil at sea worldwide, ” said the report.

Global oil supplies fell by about 586,000 barrels per day last month, tanker tracking data compiled by Bloomberg shows. Total flows to China fell by more than 1.4 million bpd, the biggest decline this year.

At the same time, it was noted that oil exports in July fell not only to the Russian Federation, but also to Brazil, Venezuela and Qatar. However, Saudi Arabia and the United States have risen.

Bloomberg conducted a separate analysis this week and found that overall Russian oil exports by sea were the lowest in nearly a year, with shipments from Baltic ports falling to their lowest levels from December 2022.

Earlier in July, Slovakia and Hungary said they would stop receiving oil from Lukoil after Ukraine stepped up sanctions against it. At the same time, Bratislava and Budapest receive oil from other Russian suppliers, but not from Lukoil.

Brent oil fell sharply to $77 a barrel

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Source: korrespondent

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