Russian Crude Oil Exports Plunge To January Lows

Russian crude oil exports by sea continued to decline in July and averaged below 3 million barrels per day (bpd) in the four weeks to July 30, the lowest four-week average since the start of the EU embargo, tanker-tracking data monitored by Bloomberg showed on Tuesday. Russia is estimated to have shipped out of its ports 2.98 million bpd on average in the four-week period to July 30, according to the data reported by Bloomberg’s Julian Lee. This is the lowest four-week average of Russian crude shipments since the four weeks to January…