There were confirmations of the effectiveness of Ukrainian strikes on oil terminals in Primorsk and Ust-Luga.
Several Ukrainian strikes on Russian ports in Primorsk and Ust-Luga led to a sharp drop in Russian oil exports last week, according to a weekly Bloomberg analysis, the PromPolitInform portal informs.
Between March 23 and 29, Russia exported 16.23 million barrels of oil on 22 tankers – a 43% decrease compared to the previous week, when there were 28.5 million barrels on 37 ships.
Average daily exports fell from 4.1 million to 2.3 million barrels (the lowest since February 2025), and total exports from Baltic ports were the lowest for the entire period of a full-scale war. In Primorsk, only four tankers were loaded in a week, in Ust-Luga – two.
Джерело: bloomberg.com
Separately, export figures were affected by a four-day outage at the Pacific port of Kozmino – probably for technical reasons.
Despite the fall in volumes, higher oil prices partially compensated for Russia’s losses, writes Bloomberg. The average value of exports in four weeks rose to $1.79 billion a week from $1.7 billion thanks to the rise in Urals, prices for which rose for the fourth week in a row amid the war in the Middle East.
The cost of Russian oil rose by about $11 to $73.2 per barrel with shipment from the Baltic Sea and to $71.5 from the Black Sea. The price of the ESPO variety, which is exported through Kozmino, rose by $9.50 to about $84 per barrel.
The volume of Russian oil loaded on tankers at the end of March fell below 120 million barrels: the volume is declining, because shipments exceed new deliveries. At its peak in January, there were about 140 million barrels on tankers.
On March 24, it was reported that an increase in oil prices after the outbreak of war in the Middle East allowed Russia to postpone changes in the budget.
Photo by REUTERS
