Russian oil exports fall to 5-month low

In the week ending August 12, Russian oil exports fell sharply, to the lowest level since March 2022.

Russia exported 3.24 million barrels a day, down from 3.32 million barrels a week earlier.

The average amount of oil Russia exports to Asia is 1.72 million barrels a day, which is a low amount compared to April and May 2022.

Oil exports to Europe fell to 1.32 million barrels a day.

The amount of Russian oil sold to Asia, mainly to China and India, has gradually decreased after stalling at 2 million barrels a day from the end of April to the end of June.

Asia is currently the main market for Russian oil, after Europe stopped or reduced imports, due to the country launching a war to invade Ukraine.

Russia is also actively looking for new markets in Sri Lanka and Egypt.

Russian oil exports are 500,000 barrels a day lower than their peak in April.

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