Key facts
- Russia's seaborne crude exports fell to a four-month low.
- Average crude exports were 3.71 million barrels per day in the four weeks through August 9.
- Recovering domestic refinery runs contributed to the export decline.
- Disruptions at key ports, including Novorossiysk, also affected exports.
- Russia received its first gasoline shipments from India.
- One 42,000-ton gasoline cargo from India arrived on August 5.
- Ukrainian drone attacks on refineries exacerbated Russia's fuel imbalance.
Russia's seaborne crude oil exports have reached their lowest point since May, with an average of 3.71 million barrels per day recorded in the four weeks leading up to August 9. This reduction in exports is primarily driven by two factors: the recovery of domestic refinery runs and disruptions experienced at critical Russian ports, notably Novorossiysk.