Ukraine's Drone Strikes Slash Russian Oil Exports
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Ukrainian drone strikes significantly impact Russian oil exports, causing a sharp decline in shipments to the lowest levels in over a year. The attacks hit key ports like Primorsk and Ust-Luga, reducing Baltic shipments to the lowest since the 2022 invasion of Ukraine. Crude shipments plummeted by 1.75 million barrels a day, with the four-week average dipping to 3.31 million barrels a day. Despite pushback from some allies, Ukraine continues to target Russian oil exports, causing global market turmoil. However, Russia managed to secure new buyers and saw an increase in export values due to high Urals crude prices. Flows to Asia cooled, but the situation remains volatile due to sanctions, weather, and maintenance issues.
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