Russian crude oil exports from key Western ports fell to a 19-month low in July 2024, dragging down overall seaborne oil flows worldwide. This was reported by Bloomberg.
► Read the Finance Ministry's Facebook page: main financial news
Last month, global oil supplies fell by about 586,000 barrels a day, according to tanker tracking data.
The overall flow to China fell by more than 1.4 million barrels a day, the biggest drop recorded this year.
It is noted that the increase Exports from leading exporters Saudi Arabia and the United States helped offset smaller shipments from Russia, Brazil, Venezuela and Qatar.
Russian exports — mainly of its flagship Urals grade — from the Baltic ports of Primorsk and Ust-Luga and Novorossiysk on the Black Sea fell to almost 1.8 million barrels a day last month, compared with 2.2 million barrels a day in June.
Russia has improved its compliance with its OPEC+ quotas. Refineries in the aggressor country are also reopening, which could reduce the volume of oil exported.
A separate analysis this week showed that Russia's overall seaborne crude exports are at their lowest in almost a year, with shipments from Baltic ports at their lowest since December 2022.
- Oil
