Russia's Oil Exports Remain High Despite Pledge to Cut and EU Bans.
Russia's crude oil exports by sea fell slightly in the four weeks to June 18, but were still 250,000 barrels per day higher compared to February, which serves as a baseline for the 500,000-bpd production cut Russia has promised this year. Despite extending the cuts until the end of 2024, crude oil export data in recent weeks do not reflect any cuts, and Russian crude oil exports by sea have been rising.