Russia has increased oil exports from Pacific ports

Photo – oil terminal in the Russian port of Kozmino

A year later, after the beginning of the full-scale invasion of the russian federation into Ukraine, sea exports of russian oil approached record levels. In particular, the russian federation sent the maximum volumes of oil from the ports of the Pacific region.

During the week to February 24, 2023, deliveries from russian ports increased to 3.63 million barrels per day – these volumes were exceeded only 4 times since the beginning of last year, according to Bloomberg.

The less volatile four-week average also rose ahead of a 500,000 bpd cut in russian oil production. The terrorist country is taking these measures in response to the Western embargo and price restrictions on russian oil cargoes.

Russian oil exports from Black Sea ports fell sharply as storms closed the port of Novorossiysk for most of the week. Flows from the terminal in Murmansk also decreased. But the decrease in shipments from the specified ports is compensated by the record volume of deliveries from the Pacific ports of russia.

Last week, a record 10 tankers were loaded in the Pacific port of Kozmino. Batches of crude oil from the eastern ports of russian federation are sold at prices almost 40% higher than those exported via the Baltic Sea.

Crude volumes on ships bound for China and India, along with smaller shipments to Turkey, rose in the four weeks to an average of 3.27 million barrels per day, the highest since Bloomberg began tracking early last year.