11/22/2023 0 Comments 400 million of them are produced daily![]() Russia has sharply reduced its piped natural gas supplies to the European Union since its unprovoked invasion of Ukraine. Total product exports in October were 2.8 mb/d, down 360 kb/d since the start of the year. While Russia has been able to redirect all its crude oil exports so far, it has not found new buyers for its product exports. Shipments to unknown or yet to be identified destination have also risen, due to increased use of “dark” tankers and higher volumes of oil on water. By October, crude oil exports to India had increased by 965 kb/d, to 1.1 mb/d China by 225 kb/d to 1.9 mb/d and Turkey by 320 kb/d to 540 kb/d. The decline in shipments to the EU has been offset by increases to India, China and Türkiye. Crude oil exports to the EU member states have been reduced by 1 mb/d to 1.5 mb/d. Russian crude oil exports in October were largely unchanged compared with pre-war levels, at 4.97 mb/d. In October, total oil exports were 7.7 mb/d, only 400 kb/d lower than pre-war levels. Russian oil exports have so far proved resilient to sanctions, import embargoes and buyer boycotts. Have Russian oil and gas exports continued to flow since the start of its invasion of Ukraine?
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