Tankers with Russian oil pushed up

The export of Russian oil by tankers increased by one and a half times last week compared to the previous one. Experts are talking about corrective growth.

From July 28 to August 3, the export of oil by tankers from Russia has grown one and a half times. This is reported by Kommersant with reference to the Center for Price Indices. Shipment increased to 480 thousand tons per day (4-6 tankers).

The Central Bank noted that the growth occurred after a sharp decline the day before.

"Exports from all seaports have returned to the levels before the drawdown. At the same time, exports from Novorossiysk reached a record 103 thousand tons per day due to an increase in shipments to Turkey,"Kommersant writes.

Amid the introduction of US duties for India, tanker freight rates are rising.

"The cost of transporting raw materials from the ports of the Baltic and Novorossiysk to India and China for Aframax-class vessels has increased by 3-4% in a week, now their cost reaches $ 8.5 and $11.5 per barrel, respectively. Freight prices to Turkey remained at $ 3.6−6.3 per barrel after rising by 30% a week earlier," the publication adds.