Almost 80% of crude has been rerouted from the EU to India and China, the agency reports Russian oil exports reached a 14-month high in April, with the lion’s share going to Asian markets amid Western sanctions, the International Energy Agency (IEA) reported on Tuesday. Crude shipments increased by 50,000 barrels per day (bpd) to 8.3 million bpd last month. The report suggests that a planned Russian oil production cut has not been fully implemented, something Moscow has denied. In February, Russia pledged to voluntarily reduce oil output by 500,000 bpd starting in March. The move came in response to sanctions
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