Russian oil exports have reached their highest level since 2026, despite growing competition in the Indian market.
Bloomberg reported this, citing data from Ukrinform.
According to tanker tracking data, the average weekly volume of Russian oil exports during the four weeks leading up to June 21 was 3.89 million barrels per day, slightly exceeding the previous week’s figures.
This increase in exports comes amid Ukrainian attacks on Russian oil refineries, forcing Moscow to redirect oil volumes to foreign markets since it cannot be processed domestically. The volume of Russian oil at sea has risen to 125 million barrels, which is 26% more than in mid-April. According to tanker tracking data, nearly all of this oil is in transit.
At the same time, Russia may face difficulties in increasing sales on the global market. Following interim agreements between Washington and Tehran and the resumption of shipping through the Strait of Hormuz, more oil from Iran and the Middle East is returning to the market. In addition, the U.S. Department of the Treasury has temporarily lifted sanctions on the sale of Iranian oil until August 21, allowing these supplies to serve as an alternative to Russian Urals crude.
