Russia’s oil exports appear to have stabilized, based on Bloomberg data released Monday showing a steady level of 500,000 barrels per day below the peak reached prior to the February invasion of Ukraine. Russian seaborne crude exports reached 3.5 million bpd in the week to July 29th, according to Bloomberg, while the four-week average shows about 3.2 million bdp–a figure that suggests stabilization. More specifically, while Bloomberg reported last week that there were indications Chinese and Indian buyers were slightly letting…
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