Russia’s Oil Revenues Strained as Exports Decline Again

Russia’s oil exports took another hit last week, undermining gains from rising global prices as shipment volumes slipped for the second week in a row.

Crude flows averaged just over 3.19 million barrels per day in the week ending June 22 — the lowest since mid-April. The decline was fueled by a temporary halt at the Pacific port of Kozmino due to maintenance and an unexplained slowdown at the Baltic port of Primorsk. While Kozmino resumed activity later, the three-day pause left a noticeable gap in supply.

Only 28 tankers departed Russian ports during the week, carrying a total of 20.89 million barrels, down from 30 vessels and 22.4 million barrels the week prior. A slight increase in shipments from Murmansk couldn’t offset losses elsewhere.

Despite the volume drop, rising oil prices lifted Russia’s weekly revenue to $1.38 billion, up by $40 million. Geopolitical unrest in the Middle East had temporarily spiked global crude prices before tensions eased with a ceasefire agreement. Russian benchmark blends rose by over $6 during the week, with deliveries to India priced near $75 a barrel.

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Meanwhile, domestic refineries are pulling more oil away from exports. Following seasonal maintenance, processing volumes climbed to a yearly high, averaging 5.42 million barrels per day in June.

On the international front, Russia’s crude deliveries to Asia and the Mediterranean are both trending lower. Flows to Asian markets dipped to 2.77 million barrels per day over the past four weeks, while shipments to Turkey also slipped after peaking earlier this year.

Though briefly buoyed by higher prices, Russia’s oil revenues remain under pressure from declining exports and growing internal demand — a tightening squeeze on one of its most critical economic lifelines.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.