Value of Russia's weekly seaborne oil shipments hits wartime high of $2.76 billion, Bloomberg reports

The value of Russia's seaborne oil shipments rose by about $430 million to a wartime high of $2.76 billion in the week to 25 October, Bloomberg reported, as carried by gCaptain. Some 37 tankers loaded 26.93 million barrels of crude that week, or 3.85 million barrels a day, the most in a month, and 12 tankers left Primorsk, up from four the week before. Over four weeks, flows eased to 3.55 million barrels a day, the lowest in five weeks, while the average value was little changed at $2.61 billion a week. Bloomberg says China and India remain the largest buyers, but Indian demand may weaken on high shipping costs.

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