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Russian Exports: Crude Shipments Steady, Products Rebound

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  • Russia’s exports of oil, including to Belarus, were 4.6 million barrels per day in the first quarter, roughly flat compared to the second half of 2024.
  • Year on year, first-quarter crude exports were the lowest since 2021, when the global economy was still recovering from the Covid-19 pandemic.
  • Exports of petroleum products were 2.57 million b/d, higher than the previous three quarters, although the broad trend has been lower due to the loss of the European market.

In March, Russia's crude oil exports amounted to 4.6 million b/d, the same level as in January and February. Seaborne shipments ticked up by around 90,000 barrels per day to 3.38 million b/d and compensated for slightly lower pipeline shipments to both Europe and China, according to ʶԳ data.

Topics:
Crude Oil, Oil Supply, Oil Products, Refining
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