Russia's oil exports rebound to pre-war levels, hitting near three-year high.
TL;DR Summary
Russia's crude oil exports have surpassed pre-war levels, with China and India accounting for 90% of its seaborne crude exports, according to Kpler data. Europe now only takes in 8% of Russia's oil exports, with Turkey and Bulgaria being the biggest buyers after China and India. The US and other Western nations have imposed sanctions and energy price caps on Russia, but China and India are taking advantage of discounted Russian crude. Despite falling prices, Russia's export volumes remain elevated, and oil prices are heading back up as China's reopening economy drives demand while OPEC and Russia pinch supplies.
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- Russian oil exports hit near three-year high in March despite sanctions in wake of Ukraine war: IEA Firstpost
- Russian Oil Exports Hit Near 3-Year High in March Despite Revenue Drop The Moscow Times
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