Russian Offshore Oil Exports Collapsed
- 19.11.2025, 22:07
- 3,056
To the lowest since the beginning of the year.
Marine supplies of Russian oil in the period from November 10 to 16 fell to 291 thousand tons per day - the lowest level since the beginning of 2025. As follows from the review by the Center for Price Indices, the decline was 12.7% compared to the previous week. The main reduction was in the port of Primorsk, where shipments fell by more than 70%. In Novorossiysk, shipments were also suspended in mid-November due to an incident at the port, "Kommersant" reports.
Analysts attribute the drop in exports to the restructuring of logistics after U.S. sanctions against LUKOIL and Rosneft. Against the background of restrictions, the largest buyers of Russian raw materials - China and India - have increased purchases of oil from the Middle East and the Atlantic region.
At the same time, freight rates are rising: the cost of oil transportation from Novorossiysk to Western India for the week increased to $8.6 per barrel, and tariffs for routes from the Azov-Black Sea basin - to annual highs. Market participants note a decrease in available tonnage, especially among Greek shipowners who have traditionally transported Russian oil.
According to experts, further export dynamics will depend on importers' perception of sanctions risks. At the same time, high freight rates may attract additional carriers, including companies from Greece, China and the UAE.
Vice Prime Minister Alexander Novak said that U.S. sanctions have not affected production: it continues to grow in November, and the annual forecast of 510 million tons remains unchanged. According to him, the discount on Russian raw materials will be reduced as the market adapts.
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