Moreover, the maritime flows did not reflect this reduction in production, in addition to the fact that the refineries in Russia did not register a significant drop either, as the figures indicate that the processing rates remained almost unchanged. since the beginning of the year.
India tops the list of destinations for Russian oil transported by sea with 1.17 million barrels per day, followed by China with around 980,000 barrels per day, and the volume of shipments of unknown destination amounts to over one million barrels per day, four-week average.
The diversion of crude oil previously delivered to Poland and Germany via the Druzhba pipeline increased maritime oil flows in the first quarter of this year to an average of 3.32 million barrels per day, from 2 .94 million barrels per day in the fourth quarter of 2022.
As for Russia’s revenue from the export of crude oil, such revenue rose 19% to $56 million in the week ending April 28, while the average revenue for four weeks remained unchanged at $47 million.
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