August 05, 2026
Bloomberg: Russian Oil Flows Hit Seven-Week Low on Lull in Refinery Strikes
Russia’s seaborne crude exports fell below 4 mb/d for the first time in six weeks, as a lull in Ukrainian drone attacks allowed Russian refineries to boost processing and reduce crude available for export. However, renewed strikes on major refineries could reverse that trend and increase exports. Weekly shipments dropped to 3.52 mb/d, with particularly weak loadings from Novorossiysk and Murmansk. Meanwhile, Russian crude continues to face logistical delays, with cargoes piling up off Egypt and near Singapore.
Figure 1 shows trends in weekly crude exports by crude grade. One thing is clear: The main grades—Urals, ESPO, and Sokol—have not been affected. This indicates that the impacted crude streams originate from specific areas where attacks have been more common.
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