Russia's Oil Exports Plunge In July - Media

(MENAFN- UkrinForm) Last month, Russian oil exports from the country's main western ports fell to their lowest in nearly 20 months. China-bound exports saw the largest drop.

That's according to Bloomberg , Ukrinform reports.

The crude export volume drop to a 19-month low underpins an overall downward trend in oil supplies by sea around the world, the report said.

Global oil supplies last month fell by about 586,000 barrels, according to tanker tracking data compiled by Bloomberg. The total daily flow to China collapsed by more than 1.4 million barrels, the biggest drop this year.

Read also: Ukrainian drone strike targets Gubkinskaya oil depot in Belgorod region - SBU

As noted, the increase in exports from the leading Saudi and U.S. exporters helped balance out decreased deliveries from Russia, Brazil, Venezuela, and Qatar.

This week, Bloomberg ran a separate analysis, finding that Russia's total oil exports by sea were the lowest in nearly a year, while supplies from Baltic ports fell to their lowest since December 2022.

As Ukrinform reported earlier, the export of crude oil from Russia over the last week, until July 7, decreased the most since Russia's invasion of Ukraine in 2022.

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