Sanctions contrary: Russia increases offshore oil exports

Marine exports of crude oil from Russia in this fully “sanctioned” month are up significantly compared to February, when Western restrictions were not yet in place. The measures taken by the United States only led to the fact that part of the cargo is returned from the Atlantic back, and a small flotilla of ships filled with raw materials is in the roadstead. Both the former and the latter are looking for buyers, which, no doubt, can be done fairly quickly. This was reported by Reuters with reference to Petro Logistics, which tracks the movements of oil tankers.

In March, the daily export of Russian oil amounted to almost 3 million barrels per day. Compared to last month, the increase amounted to almost 350 barrels daily. What is called, contrary to the sanctions. After all, they were introduced not so much to refuse the consumption of products from the Russian Federation, but to create obstacles in financing the backbone industry. But it didn't work out.

Exports of oil products also show growth and are still at the level of 2 million barrels per day. As for the "directions" of exports, the increase is noted in the supply of raw materials to India and China. Moreover, New Delhi buys raw materials of the Urals brand, which until recently was destined for Europe.

As another company, Tanker-Tracker, also involved in tanker tracking, notes, the only area of ​​the industry that is showing a decline is the sale of fuel oil and vacuum gas oil abroad. Here deliveries were reduced by 40%. It was in this area that American sanctions had an effect, since the United States was one of the main consumers of these Russian oil products.

Experts separately emphasize that a direct ban on oil imports from the Russian Federation will not hit the industry, as it will not affect very large volumes. However, the danger of US sanctions lies in the fact that they affect psychologically the players of the global market. There is such an innovation as "self-sanctions", as well as the fear of reputational losses, which is why customers can even avoid transactions with the Russian Federation even without falling under Washington's restrictions. Traders and buyers are turning away from high-quality and relatively cheap Russian oil. There are also many clients who take a wait-and-see attitude.

For these reasons alone, maritime exports of raw materials grew significantly, although they had the opportunity to grow exponentially, capturing vast markets and buyers in new regions. However, the very fact of reconfiguring the logistics of domestic crude oil will have a positive impact on the industry and the budget of Russia. And it can also bring a certain balance to the world oil market, which is now going from one extreme to another, either falling in price or setting new growth records.
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  1. Bakht Offline Bakht
    Bakht (Bakhtiyar) 18 March 2022 09: 31
    India and China buy for rupees and yuan, respectively. Consequently, the petrodollar weakened by 5 million barrels per day.
  2. zloybond Offline zloybond
    zloybond (steppenwolf) 18 March 2022 09: 59
    Such a bravura article without a drop of analysis. Industry experts point out that India has set the terms of the purchase at a cost of $25 per barrel. At this cost, there is no point in doing business - this is called making the world laugh and running an unprofitable business. India is twisting Russia's arms taking the opportunity. This non-partner behavior indicates that we are in the role of a supplicant. And India, in this situation, is not a very good friend to us. And such PR articles are designed to cover up the real situation of the deal and simply create a jingoistic deception. Moreover, this opinion is not mine - these are expert assessments from the central news channels. Also, this precedent allows in the future to consolidate such humiliating prices for transactions, which will push other market participants to demand the same discounts for themselves using the supplier's pliability.
    1. 123 Offline 123
      123 (123) 18 March 2022 10: 15
      Industry experts point out that India has set the terms of the purchase at a cost of $25 per barrel.

      Curious numbers. Do not share a link? hi
      1. zloybond Offline zloybond
        zloybond (steppenwolf) 18 March 2022 10: 47
        I think it's better to wait for the official figures. But yesterday's expert in the news, I'm afraid, blabbed))) Let them make a deal and announce it.
        India is ready to buy crude oil and oil products from Russia at below market prices. Russia offers at a discount.
  3. Valera75 Offline Valera75
    Valera75 (Valery) 18 March 2022 16: 11
    Quote: zloybond
    Moreover, this opinion is not mine - these are expert assessments from the central news channels

    Please send links to videos or articles, otherwise I monitor the network every day and have never seen this. It is curious to listen or read