Russia’s Crude Oil Shipments Hit Highest Since At Least Early 2022

Russia’s crude oil exports by sea hit a new high of 3.55 million barrels per day (bpd) in the four weeks to May 5, the highest shipments since at least early 2022, tanker-tracking data monitored by Bloomberg showed on Tuesday. Russian crude shipments have continued to rise over the past four weeks, according to the data reported by Bloomberg’s Julian Lee, despite Russia’s insistence that it is cutting oil production by 500,000 bpd and even more. Russia warned in February that it would cut its crude oil production by…