Russia earned nearly $3 billion from oil exports in one week — Bloomberg

Over the past week, Russia earned $2.76 billion from oil exports by sea. According to Bloomberg, this is the highest weekly figure since the start of the full-scale war against Ukraine.

During the week ending October 25, the value of Russian oil exports by sea rose by approximately $430 million—to $2.76 billion—marking the highest figure since the war began.

The decline in prices for Russian Urals crude was more than offset by a sharp increase in shipment volumes, as well as a rise in the price of Russian ESPO crude, which has been rising for the eighth consecutive week.

According to vessel tracking data and industry reports, during the week ending October 25, approximately 37 tankers loaded 26.93 million barrels of Russian crude oil.

By comparison, the previous week (ending October 18), this figure stood at 21.87 million barrels, loaded onto 31 tankers.

It is noted that China and India remain the largest buyers of Russian crude oil—far ahead of the rest. However, it is not always possible to determine the final destination of individual cargo shipments until the vessels have traveled a significant portion of their route; as a result, data on many recent tanker shipments list only intermediate destinations—such as Suez, Port Sudan, or Singapore.

Bloomberg reports this.

As a reminder, in September, Russia increased its oil exports, but its refineries remained under pressure — Bloomberg

Russia began exporting oil from the large-scale Arctic project Vostok Oil.

Russia earned record oil revenues amid the crisis in the Middle East.

Russian seaborne oil exports have fallen to their lowest level since March — OilPrice