Russian crude oil maritime shipment situation last week
-- Russian crude oil's actual maritime exports plummeted sharply, dropping from 4.1 million barrels per day to 2.3 million barrels per day (Figure 1).
The reason is due to attacks on Baltic Sea ports.
-- The Primorsk port originally scheduled for 10 tankers, actually loaded only 4; the Ust-Luga port, originally planned for 8 tankers, loaded only 2 (Figure 2).
-- The average price of Urals crude (4-week moving average): Primorsk (Baltic) rose to $73.2 per barrel, Novorossiysk rose to $71.5 per barrel. The previous lows were $36.3 and $34.2 respectively.
This means that compared to the January low, prices have increased by $37 per barrel—almost doubling.
Despite the rising oil prices, shipment volumes have drastically declined (Figure 3).
Original source: toutiao.com/article/1861218125493248/
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