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Updated · Bloomberg · May 12Russia's Crude Exports Fall to 3.64 Million Bpd as Novorossiysk Sends 1 Tanker
1 articles · Updated · Bloomberg · May 12
- Russia’s four-week average crude exports slipped to 3.64 million barrels a day in the 28 days to May 10, down from 3.68 million the previous week.
- One tanker leaving Novorossiysk in the seven days to May 10 drove the decline, marking the first drop in weekly shipments since March.
- The Black Sea port slowdown cut overall Russian crude flows and reduced oil revenue feeding the Kremlin’s war chest in Ukraine.
Can Western sanctions truly sink Russia's 'shadow fleet' and its ability to fund the war? Are Ukrainian drone strikes accidentally boosting Russia's war chest by driving up global oil prices?