Russian oil exports for the week from March 17 to 23 fell by a quarter compared to the previous week.
According to Bloomberg , the average daily export of Russian oil last week amounted to 495.3 thousand tons or about 3.63 million barrels, which is 26.4% less than last week.
The agency notes that the drop in exports is probably due to the fact that many traditional customers refuse to buy Russian oil after the country’s invasion of Ukraine.
Officially, only a few countries, including the United States and the United Kingdom, have banned Russian oil imports. However, many traditional buyers are giving up Russian oil without additional bans in response to the war. In particular, large companies from Shell Plc to TotalEnergies SE have stated that they intend to gradually stop purchasing oil and fuel from Russia.
According to data on oil exports from Russia, the decline in exports was at least partly due to smaller volumes from Russian ports in the Baltic Sea and the Asia-Pacific region.
At the same time, the total oil production in Russia during this period has hardly changed, falling by 0.3% compared to the previous week. According to Bloomberg, the country produced an average of about 11.08 million barrels per day during this period.
s reported, due to the refusal of traditional buyers to purchase Russian Urals oil, the discount on it in North-Western Europe exceeds $ 30 per barrel. The fall in Russian oil prices has also been acknowledged by the Russian government.