Russian Crude Exports Drop to Lowest Since May

AI Summary

Russian seaborne crude exports have fallen to their lowest since May due to increased domestic refinery runs and disruptions from attacks at key ports. Shipments declined from 3.5 million barrels per day to 3.25 million bpd, despite a slight rise in crude production.

Russia’s seaborne crude exports fell to their lowest level since May as recovering refinery runs pulled barrels back into domestic processing and attacks disrupted loading at key ports. Russia shipped 3.71 million barrels per day in the four weeks through August 9, according to vessel-tracking data compiled by Bloomberg. Shipments averaged just 3.25 million bpd in the latest week, down from 3.5 million bpd a week earlier. The drop comes just days after industry sources said Russian crude and condensate production rose by roughly 100,000 bpd…