IVAN KUZKIN/Shutterstock Russia’s average crude oil exports in the first quarter were 5 million b/d, a slight gain on the fourth quarter of 2022.In March, total Russian fuel exports, including petroleum products, are estimated to have reached 8.2 million b/d, a level not seen since prior to the pandemic.India has overtaken China as Russia’s largest crude buyer. Shipping data show the former is scheduled to import nearly 2.3 million b/d in April.Preliminary April data indicate a slight decline in exports as China reduces purchases during refinery maintenance season. Save for later Print Download Share LinkedIn Twitter Sanctions and restrictions notwithstanding, Russia’s exports of crude are irrefutably healthy. First-quarter deliveries, including those to Belarus, averaged 5 million barrels per day, up 150,000 b/d on the previous quarter and flat compared to whole-year 2022. Exports for the first 16 days of April are estimated at 4.85 million b/d, the downtick resulting from lower Chinese purchases as the country’s refineries undergo maintenance, concentrated in May and June.
