Russia's Seaborne Crude Oil Exports Fall to Lowest Level Since May

Russia's seaborne crude oil exports have fallen to their lowest level since May, as refineries ramp up operations and Ukrainian attacks disrupt loading ports. According to ISNA, reported by Donya-e-Eqtesad on Wednesday, August 12, 2026 (21 Mordad 1405), and based on ship tracking data compiled by Bloomberg, Russia exported an average of 3.71 million barrels per day over the four weeks to August 9 (18 Mordad), with the figure falling to 3.25 million barrels per day in the final week of that period, down from 3.5 million barrels per day the week before. Novorossiysk, one of Russia's main Black Sea export ports, has been operating at close to half its peak rate following attacks on tankers near the port. Ukraine struck five Russian refineries in the first week of August and two more the following week. Citing Oilprice.com, the report said Russia's average seaborne crude exports so far this calendar year stand at 3.62 million barrels per day, about 280,000 barrels per day above last year's average.