Russian oil exports hit post-invasion high

Russia's oil exports hit a post-invasion high in April, with almost 80% of crude shipments flowing to China and India, says IEA

May 16, 2023 . 1:00 PM

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Russia exported 8.3mn b/d of oil in April, highest since its invasion of Ukraine last year.
80% of crude shipments went to China and India.
Russia found new buyers for its oil since Europe blocked imports and new vessels.
Despite shipping more oil, Russia's monthly oil export revenues were 27% lower than last year.
IEA increased its forecast for 2023 global oil demand growth to 2.2mn b/d.