Alexander Kokcharov
@alex_kokcharovIn #Russia, seaborne #oil exports fell to an 11-month low in August 2023, according to tanker tracking data:
https://t.co/Il6bdz1BWf https://t.co/XXqqHFARxQ
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Russian crude oil producers are benefiting from the increasing number of vessels plying the routes to China and India, resulting in the lowest shipping costs in almost a year. This development poses a challenge to the Russian oil price cap. Seaborne oil exports from Russia fell to an 11-month low in August 2023. The growing tanker fleet and cheaper freight rates are contributing to this trend.