By Natali Moss
Demand from buyers from Russia - mainly from China, India and Turkey - has helped the volume to reach a new maximum on average in four weeks. Journalists note that maritime exports do not reflect the reduction of production, which, according to the Moscow Ministry of Energy, in March was 700,000 barrels a day.
Judging by the latest information, the rates of processing remain unchanged from the beginning of 2023 and until April 19 were 720,000 barrels a day higher than the same full month last year. The reduction in production, which was to begin in March, had to be reflected in export figures, but that did not happen. In Russia, it has a number of warehouses that it can use as a buffer in case of reduction of production.
Recall that oil embargo on oil supply from Russia to the European Union came into force on December 5, 2022. But according to March 2023, it became known that exports of "black gold" from the Russian Federation reached the pre -war level. The reason: the Russian Federation offers its barrels to a more limited circle of customers and at a lower price. In addition, despite the sanctions, the country has discovered new markets - India and China.
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