Russian Exports: Great Migration of Crude, Products Is Under Way

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

  • Russia’s oil exports in December sunk to a 16-month low of 4.34 million b/d as shipments out of the Baltic Sea plummeted.

  • Exports of petroleum products touched a 10-month high of about 3 million b/d as Europe stockpiled diesel ahead of the Feb. 5 embargo.

  • Data for the first week in January show a sharp decline in pipeline shipments to Europe, while exports to Asia are ramping up.

The crude oil and refined products embargoes by the EU are having a discernible impact on Russian flows.

Crude Oil, Oil Supply, Oil Trade, Sanctions
Wanda Ad #2 (article footer)
While market conditions have improved for West African fare in particular, the uptick has been slower than expected.
Thu, Feb 2, 2023
Russia's January crude oil exports soared by nearly 14% versus December, surpassing the levels seen before the start of the war in Ukraine.
Thu, Feb 2, 2023
Despite recent developments in global crude flows and domestic differentials, the rationale for building the Seaport Oil Terminal (SPOT) near Houston is still valid, according to Enterprise.
Wed, Feb 1, 2023