Since the beginning of the year, the average volume of Russian crude oil shipments has been 3.46 million barrels per day — this is approximately 120 thousand barrels more than in 2025, and more than the annual averages for 2022–2024, writes Bloomberg, citing tanker shipping data.
Photo: Hristo Rusev / Getty Images
The increase in export volumes, according to the agency, is related to Ukrainian attacks on Russian refineries. In late May, Reuters reported that almost all major oil refineries in central Russia were forced to stop or reduce production after Ukrainian drone strikes. Due to attacks on refineries, Russian oil companies are facing difficulties in processing crude oil and are more actively selling it abroad.
The volume of Russian oil on tankers at sea reached 124 million barrels, writes Radio Free Europe/Radio Liberty's Russian Service.
According to tanker tracking data, almost all of this oil is currently en route, not just sitting at sea. Among the active buyers of Russian oil products is India, which increased its purchases of Russian crude oil by 63% in May compared to February's figures. This occurred amid a weakening of American restrictions on the purchase of Russian oil.
Due to the military conflict in the Middle East and rising global oil prices, Russia sharply increased its oil export revenues. While in early 2026, Moscow was earning about $1-1.2 billion per week from oil sales, by May this figure had risen to $2-2.5 billion per week, according to Bloomberg's calculations.
These are the highest figures since the start of the full-scale war in Ukraine.
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