Russia’s Oil Exports Stagnate as Prices Sink and Sanctions Bite

Russia’s seaborne crude oil shipments barely budged in late June, holding near two-month lows despite a modest uptick from major ports. In the four weeks to June 29, crude exports averaged 3.21 million barrels per day (bpd)—up just 1% from the previous four-week period, according to Bloomberg tracking data. Weekly volumes sat around 3 million bpd, also little changed. While key terminals like Primorsk and Kozmino saw higher flows, declines from smaller ports—including Novorossiysk and Murmansk—nearly canceled out the gains.…