Russian seaborne crude exports averaged 4.13 million bpd in the four weeks to June 28, the highest since the 2022 conflict, Bloomberg tanker data show. The surge has raised seaborne inventories roughly one‑third above the mid‑April low, with cargoes stacking near Egypt and Singapore, suggesting Moscow is increasingly struggling to place barrels. Exports have climbed as Ukrainian strikes on Russian refineries continue, which could redirect crude that cannot be domestically processed into export f

Russian seaborne crude exports averaged 4.13 million bpd in the four weeks to June 28, the highest since the 2022 conflict, Bloomberg tanker data show. The surge has raised seaborne inventories roughly one‑third above the mid‑April low, with cargoes stacking near Egypt and Singapore, suggesting Moscow is increasingly struggling to place barrels. Exports have climbed as Ukrainian strikes on Russian refineries continue, which could redirect crude that cannot be domestically processed into export flows. Global oil prices have fallen sharply amid the added near‑term supply pressure.