Almost three million barrels of Russian crude oil are exported to the Far East every day.
(Photo: Reuters)
Frankfurt According to the International Energy Agency (IEA), Russia’s oil exports have risen to their highest level in three years, despite sanctions from western countries. Oil deliveries abroad increased in March by 600,000 barrels, i.e. 159-liter barrels, to an average of 8.1 million barrels a day, write the analysts of the interest group of leading industrialized countries in Paris in their monthly report. Russia exports as much as it did last in April 2020.
The embargo of the largest industrialized countries against Russia has thus led to a shift in crude oil deliveries, primarily to Asia. The fact that Asian refiners have been buying up large quantities of cheaper Russian oil partly explains the Opec plus oil-extraction coalition’s decision in early April to cut its output, the IEA experts conclude.
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