Analysts say that the total export of petroleum products in April amounted to PLN 4,400,000. barrels. Of this, approx. 2 million 800 thousand barrels were products of Russian origin – this is the highest result in the last year.
The Kremlin is regaining oil influence
Meanwhile, exports of Russian oil transported by the “shadow fleet” reached approximately 67 million barrels in April – the highest level in three months.
The previous peak was recorded in January, when exports amounted to 72 million 700 thousand. barrels. Then there was a sharp decline, after which exports gradually recovered:
- up to 50 million 700 thousand barrels in February
- and 64 million 100 thousand barrels in March.
Similar estimates regarding the increase in Russian oil exports were also presented by the International Energy Agency, quoted by Reuters.
Compared to March, Russian crude oil exports increased by 250,000. barrels per day and reached approximately 4 million 900 thousand. barrels per day – despite production constraints caused by Ukrainian drone attacks on refineries and transshipment terminals.
A shadow fleet of old, scrapped tankers transporting Russian crude oil (stock image)Carsten Snejbjerg/Bloomberg via Getty Images/Getty Images
The US loosened the sanctions leash
The increase in exports may have been related to disruptions in energy supplies from the Persian Gulf countries after export routes were blocked during the United States and Israel's war against Iran.
This latest easing of sanctions was to last for a month and the White House initially did not plan to extend it. However, later consent was given again to the sale of Russian oil that was already loaded on tankers at sea – this time until May 16.
Russia is the biggest winner of the oil crisis
Since the beginning of the conflict in the Middle East, media and analysts have repeatedly drawn attention to the economic benefits that Moscow derives from limiting the export of raw materials from this region. At the beginning of May, Bloomberg reported that revenues from Russian oil exports increased to the highest level since February 2022, i.e. since Russia launched a full-scale invasion of Ukraine. At the same time, deliveries of Russian fuel oil to Singapore have reached the highest level in ten years.
