Weekly Oil Exports From Russia Collapsed By Almost A Quarter
1- 17.09.2025, 18:15
- 3,194
Because of drone strikes on Baltic ports.
Russia's average daily seaborne crude exports fell by 934,000 barrels to 3.18 million barrels last week, or 22.7%. Revenue from its sale fell by the same amount, leaving Russia short almost $400 million.
The drop in volumes was the largest since July 2024, according to ship traffic data compiled by Bloomberg It was the result of Ukrainian drone strikes on oil infrastructure in the Baltic. Thus, oil exports from the port of Ust-Luga, where drones attacked three pumping stations serving the terminal, amounted to half of the volumes a week earlier. And exports from Primorsk, where two tankers were damaged, were suspended for some time.
The drop in exports came despite the fact that the shelling of refineries had reduced fuel output, freeing up additional volumes of crude to be exported out of the country. But drone strikes on port and transportation infrastructure have cut export flows and also forced Transneft to limit the amount of oil in storage and warn producers that they would have to reduce output if the situation worsened, Bloomberg writes.
Transneft denied issuing such a warning.
In the week through Sept. 14, 29 tankers were loaded at Russian ports, compared with 38 a week earlier.
The price of Brent crude hovered around $67 a barrel last week, but Russian Urals was shipped from Baltic ports at an average of $54.03 and from Black Sea ports at $54.19 a barrel, according to data compiled by Bloomberg.
As a result, the cumulative value of weekly exports fell to $1.28 billion by about $372 million (22%), the biggest drop since November last year.
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