Russian Crude Oil Exports Plummeted At The End Of 2022

Russia’s crude oil exports by sea plunged in the last four weeks of 2022 to the lowest level of the year as shipments to Europe all but dried out following the EU embargo, declining flows to Asia due to bad weather, and what appears to be a shortage of tankers to carry Russian crude on longer voyages. Russia’s overall crude oil exports by sea dropped by 117,000 barrels per day (bpd) on a four-week average basis to 2.615 million bpd for the final four weeks of 2022, according to estimates by Bloomberg News’ Julian Lee. Those shipments…