Russia's Seaborne Crude Exports Hit Four-Week Low Amid Baltic Port Disruptions
Source Summary
Russia's seaborne crude exports fell to a four-week average of 3.59 million barrels per day through October 18, down 110,000 bpd from the previous period, according to tanker-tracking data. Weekly shipments dropped to 3.13 million bpd, the lowest since March, with just 31 tankers loading 21.91 million barrels compared to 34 vessels the previous week. The decline followed temporary halts in shipments from the Baltic port of Primorsk.
Why it matters
Russia's crude export declines directly reduce government revenue from oil sales, a critical source of state funding amid international sanctions and geopolitical tensions.
