December 16, 2022

Russian crude oil and petroleum product exports have dropped from almost 9 MMBbl/d at the start of 2020 down to the low 7 MMBbl/d last summer – a drop of almost 1.5 MMBbl/d.

Crude and petroleum product flows to the US, UK, EU, Japan and Korea have dropped by about 2.2 MMBbl/d since March 2022, although 1.5 MMBbl/d has been rerouted to other markets.

2021 Russian Exports

Crude oil represented nearly 2/3 (63%) of Russian exports in 2021, the rest are petroleum products led by Gasoil (13% and Naphtha (7%).