Russian oil exports plummet, and there's a reason for it: China

Russia's seaborne Urals crude exports fell to 1.8 million barrels per day in July, the lowest since December 2022, Bloomberg news agency reported recently.

Russia's seaborne crude oil exports fall to lowest since December 2022. (Source: Reuters)

According to Bloomberg , in previous months, this figure was about 2.2 million barrels/day.

Exports from the ports of Primorsk, Ust-Luga and Novorossiysk fell amid a significant drop in oil supplies to China.

In July, Russian oil exports to China fell to 1.4 million barrels per day, the most significant drop in 2024.

Meanwhile, other major oil exporting countries such as Saudi Arabia and the US increased their oil export volume to 5.8 million and 4.4 million barrels per day, respectively.

Former Russian Deputy Prime Minister Alfred Koch said that the reduction in oil supplies to the country of a billion people could be linked to the general economic problems in this country.

The drop in Moscow's crude exports from key western ports has exacerbated a general decline in seaborne oil shipments worldwide , Bloomberg News noted.

Source: https://baoquocte.vn/xuat-khau-dau-nga-lao-doc-co-mot-ly-do-lien-quan-den-trung-quoc-281389.html