Russia continues to increase sea exports of oil

In April, oil exports by sea from Russia rose to an 11-month high of 3.95 million barrels per day.

Shipments from all major ports of the Russian Federation were close to peak levels, notes enkorr  with reference to Bloomberg.

“Cargo from Primorsk, Ust-luga, Novorossiysk and Kozmino were close to historical highs. Primorsk on the Baltic Sea handled 10 tankers in three of the last four weeks, which probably reflects a redirection to the export of crude oil that was processed at oil refineries (refineries) affected by Ukrainian drone attacks,” the publication notes.

The Port of Primorsk has not handled more than 11 tankers a week, according to data since early 2022.

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A jump in flows combined with higher prices for Urals oil boosted Moscow’s oil revenues. The gross value of crude oil exports rose to $2.15 billion in the seven days to April 14 from $1.82 billion earlier. The four-week average added roughly $170 million to $1.92 billion for the week.

Previously, USM told which companies transport Rosneft, avoiding Ukrainian sanctions.