Russian oil exports plummet, and there's a reason related to China

Bloomberg news agency recently reported that Russia's Urals crude oil exports by sea fell to 1.8 million barrels/day in July, the lowest level since December 2022.

Russia's seaborne crude oil exports fell to their lowest level 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 decline in Moscow's crude exports from key western ports 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