Published:
Jan 16, 2023 21:26 GMT
Crude exports soared last week, hitting their highest since April at 3.8 million barrels.
Russian maritime oil supplies soared last week, hitting their highest since April at 3.8 million barrels, reports Bloomberg citing maritime tracking data.
During the week, the total volume of crude oil exports increased by 30%, that is, in 876,000 barrels per day. The greatest growth was recorded in the ports of the Baltic and Black seas.
With this, the average of the last four weeks increased by 550,000 barrels per day compared to the previous ones, standing at 3.06 million. The agency points out that the rise was mainly motivated by the reduction of supply through pipeline to Europe.
However, the income in the country’s budget had a less significant increase, since all supplies for that week were taxed with the low tariffs of Januaryalthough some were calculated with the December rate, more than twice as high.
Among the main recipients of Russian oil exports are China, India and Turkeywhere supplies increased in the last four weeks to reach an average of 2.84 million barrels per day, while almost none remains in Europe.
- An EU embargo on Russian maritime supplies of oil came into force on December 5, although the measure includes several exemptions. From that date, a stop To the price of Russian crude, fixed at $60 a barrel by the Group of Seven, the community bloc and Australia.
- At the end of December, Russian President Vladimir Putin signed a decree by means of which it is prohibited to supply oil to the countries that have joined the measure. It will be in force from February 1, 2023 and until July 1, 2023.
- Among other provisions, it establishes that deliveries of Russian crude and petroleum products, which are prohibited by decree, can be authorized through a special permission from Putin.
