Russia’s Crude Flows Hit 16-Month High on Rising Output, Attacks

Russia’s seaborne crude exports climbed to a 16-month high in the past four weeks, a period in which the nation’s own oil refineries have been forced to scale back production because of Ukrainian drone attacks.

Four-week average shipments from the country’s ports reached 3.62 million barrels a day in the 28 days to Sept. 21, according to vessel-tracking data compiled by Bloomberg. That is the highest since the period ending May 5, 2024. The average provides a clearer picture of underlying trends than more volatile weekly figures.

As a result of the spate of Ukrainian drone attacks, Russian refining runs have dropped ...