Russian Oil Exports Plunged By 820,000 Bpd Last Week

Russian crude oil shipments from its key export terminals slumped by 22%, or by 820,000 barrels per day (bpd), last week, compared to the previous week, according to tanker tracking data monitored by Bloomberg. Last week, total Russian seaborne crude oil exports stood at 2.98 million bpd and were significantly lower than in the prior week. Even after last week’s drop, the four-week average of Russia’s crude oil exports was around 3 million bpd, more or less in line with the average Russian crude shipments in the second half of 2022,…