Russian oil exports hit peak

Russian crude oil exports have reached their highest levels since the start of the Ukrainian crisis, rising to 4.63 million barrels per day in the past week, driven by increased maritime shipments and a decline in domestic refining capacities due to Ukrainian attacks. Despite this, export revenues dropped to around $1.9 billion weekly, influenced by lower global oil prices, with Urals crude trading around $62 per barrel. Russia is also facing fuel supply issues caused by attacks on oil refineries, as exports to Asian markets—particularly China—continue to rise amid economic slowdown and the ongoing impacts of the war on the energy sector.

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