Russia’s seaborne crude shipments

Russia is boosting crude oil
shipments through the Arctic
Sea, shortening delivery times
and helping to push oil exports
above 4 million barrels a day for
a fifth consecutive
week

CRUDE SHIPMENTS FROM RUSSIA BY DESTINATION
(four-week average, millions of barrels per day)

Asia 
Northern Europe
Southern Europe
Other Mediterranean
Other
Unknown

5
4
3
2
1
0

2022 2023 2024 2025 2026

Feb 24: Russia
invades Ukraine

EU oil embargo
and G7 price
cap take
effect

India and China have
become major importers
of Russian crude

Barrels surpass
4 million per day
for five weeks

EUROPE USED TO BE RUSSIA’S
BIGGEST CUSTOMER (crude exports %)

Jan 30, 2022

Europe: 51%

44 41 10 5

Jul 26, 2026

87 6 7

Source: Bloomberg
Picture: Gazprom
© GRAPHIC NEWS