OREANDA-NEWS   After the introduction of European sanctions against Russian oil, Moscow has sharply increased sea fuel supplies abroad — by the end of January, exports could reach 13.9 million barrels. Such estimates were provided by Bloomberg with reference to tanker tracking data.

Sea exports of Russian Urals grade oil this month broke the April record, when 11.8 million barrels were delivered to other countries. The total volume of Russian oil delivered to other countries in December and January will amount to 19 million barrels.
The agency notes that the increase in supplies by sea will help Russia over time to reduce the cost of ship freight, which has risen sharply after the start of the European embargo on the import of Russian oil, as well as the ceiling of prices for it. Restrictions on oil entered into force on December 5, 2022, and on February 5, an embargo on the supply of Russian petroleum products to the European Union (EU) will begin to operate. The G7 countries are currently discussing the marginal price for these energy resources.

Experts predict that the supply of Russian oil and petroleum products abroad will gradually decrease in 2023. In December 2022, according to a report by the International Energy Agency (IEA), exports of oil and petroleum products from Russia fell by 200,000 barrels per day, to 7.8 million barrels. By April, the organization expects a decrease of 1.8 million barrels compared to February 2022. At the same time, the production of oil and petroleum products may also fall — experts predict a reduction of 7-13 percent and 15 percent, respectively.