Russian seaborne oil exports have fallen to their lowest level in nearly a month, Bloomberg reports. According to the agency’s estimates, the average level of Russian oil supply during the four weeks ending September 1 fell to 3.16 million barrels per day, a reduction of 90 thousand barrels per day.
In just one week before September 1, 29 tankers loaded 21.7 million barrels of Russian oil. The volume was down from 23.44 million barrels the previous week. Daily seaborne crude oil flows from Russia fell by about 250,000 barrels to 3.1 million.
Supply to Asia fell to 2.96 million barrels per day, about 9% below the average level seen in April. About 1.19 million barrels per day were loaded onto tankers bound for China and 1.66 million for India.
The export of Russian oil to European countries by sea has been stopped; Bulgaria has not imported any oil since the end of 2023. Supplies to Turkey amounted to 210 thousand barrels per day.
Earlier, Deputy Prime Minister Alexander Novak said that by the end of August Russia had fulfilled its obligations to reduce oil production under the OPEC+ agreement. According to the plan, production should reach the level of 8.978 million barrels per day. At the beginning of the month, the Energy Ministry reported that in July Russia reduced production compared to June, but exceeded the targets of the OPEC+ agreement by 67 thousand barrels per day.
