Fri. Feb 23rd, 2024

Deliveries soared in June and are expected to climb even higher in July

Russian shipments of oil products to the Middle East soared to their highest level in at least six years in June, while deliveries to Europe fell by around 30%, Bloomberg reported on Wednesday, citing data from the analytical company Vortexa.

According to the report, Middle Eastern countries imported around 155,000 barrels of Russian fuel per day in June, the most since at least early 2016. Data also shows that imports started growing rapidly in February, when Moscow launched its military operation in Ukraine, prompting EU member states and other Western nations to place sanctions on Russia, including its fuel exports.

Over a third of all Russian fuel imports went to the Port of Fujairah in the UAE, Vortexa said. Russian deliveries mainly consisted of fuel oil, but included gasoline, jet and diesel fuel, and a number of other petroleum products.

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