Russian seaborne exports of crude and oil products were little changed on the month in October after an increase in crude flows despite incoming EU sanctions were offset by a fall in product exports from Russian ports, according to tanker tracking data.
Seaborne exports of Russian crude rose to 3.09 million b/d in October, according to data from S&P Global Commodities at Sea, up 3% on the month and just below the pre-war average of 3.1 million b/d in January and February.
China and India remain the main destination for Russian crudes in the wake of the Ukraine war, accounting for 58% of all seaborne Russian crude exports in October.
China remained the primary destination for Russian barrels in October despite shipments falling to average 904,000 b/d from 918,000 b/d in September. Shipments to India rose to a record high of 883,000 b/d in October as its refiners continue to snap up discounted barrels of Russia’s Urals and ESPO crude streams.
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Source: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/110722-russian-oil-exports-hold-steady-in-october-despite-looming-sanctions
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