Russia’s Oil Exports Slumped 26% Last Week

Russian oil exports fell last week, with average shipments of around 3.63 million barrels per day (bpd) between March 17 and 23, down by 26.4 percent compared to the previous week, Bloomberg reported on Monday, citing industry data it had seen. While most Western countries—with the exception of the United States and the UK—have not imposed embargoes on Russian oil imports, many buyers in Europe and the West have tried to steer clear of Russian shipments amid concerns over future embargoes and/or sanctions, or as a “self-sanctioning”…