Russian Crude Oil Shipments Jump To 8-Week High

Russia’s crude oil exports by sea jumped by 880,000 barrels per day (bpd) week-over-week to 3.4 million bpd in the week to August 27, tanker-tracking data monitored by Bloomberg showed on Tuesday.  The surge in crude shipments comes ahead of an expected plunge in refined product exports due to strong domestic demand and high refinery throughput as the government subsidies for refineries are set to be slashed as of September 1, according to the data reported by Bloomberg’s Julian Lee. The surge in Russia’s crude exports may…