Russia exports more crude oil than it has in three years

Frankfurt According to the International Energy Agency (IEA), Russia’s oil exports rose to the highest level in three years, despite sanctions imposed by Western countries. Oil deliveries abroad increased in March by 600,000 barrels, or 159 liters of barrels, to an average of 8.1 million barrels per day, the interest group analysts of leading industrialized countries wrote in Paris in their monthly report. Russia exports as much as it was in April 2020.

Thus, the embargo imposed by the largest industrialized countries on Russia led to a shift in the delivery of crude oil, especially to Asia. IEA experts concluded that the fact that Asian refineries are buying large quantities of cheaper Russian oil partly explains the decision of the OPEC plus oil extraction alliance in early April to reduce its production.