Average seaborne shipments of Russian crude oil fell to 3.46 million barrels a day in the four weeks leading up to 23 August amid Ukrainian attacks on refineries, Black Sea ports and tankers.
Source: Bloomberg
Details: Previously, shutdowns at Russian refineries had left more crude available for export. That effect has now been offset by a decline in shipments from the Black Sea following attacks on oil tankers.
Advertisement:
Moscow was forced to redirect Kazakh oil to Novorossiysk. This freed up capacity for Russian crude at the Baltic port of Ust-Luga, which is considered less vulnerable to Ukrainian attacks.
