Russian oil exports increase over four-week period

Russia's four-week average seaborne oil exports rose to 3.3 million barrels per day, even with lower shipments from Baltic ports. This increase came despite both a sharp weekly drop in shipments and new EU restrictions.

The bloc has imposed new sanctions against Russia's oil sector. Brussels added 105 more tankers to its blacklist and tightened the price cap mechanism. The new rules include a January ban on refined products made from Russian oil in third nations. This measure could hit supplies hardest, affecting refiners in India and Turkey.

While Russia's average oil exports increased, weekly shipments suddenly dropped by about 560,000 barrels per day. This sharp decline, the biggest in five months, came mainly from reduced Urals crude flows from Baltic ports.

At the same time, Asian shipments grew to 2.86 million barrels per day last month. Turkey's volumes remained steady, while flows to Syria hit their highest since March.