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Wedoany.com Report-Oct 30 , Russia’s seaborne crude exports rose for a second consecutive week to reach the highest in a month.

Flows increased by 120,000 barrels a day, after adding a similar amount the previous week, with major ports on the Baltic and Pacific coasts operating near peak levels.

In contrast, four-week average cargoes slipped by 50,000 barrels a day to 3.41 million in the period to Oct. 27, the first decline in five weeks. The drop reflected a spike in exports seen in the week to Sept. 29 falling out of the calculation. But shipments on this basis remained above the 3.4 million marker, a level exceeded only four times since mid-May.

Russia’s refining remains on course for a slump to the lowest since May 2022, leaving more crude available for export. Planned seasonal maintenance has cut runs, which may also be affected by lower margins that make processing at some facilities in southern Russia less attractive.

The increase in flows was boosted by small increases in the price of Russian crude, which helped lift the gross value of Moscow’s exports by about $50 million to $1.6 billion in the week to Oct. 27.

Sanctions against tankers hauling Russian oil have become less effective in recent months, despite a growing number of ships being targeted. The list of tankers named for involvement in Moscow’s oil trade has risen to 90. But at least 16 shipments so far in October have been carried by sanctioned vessels, with half of those making the short trip between Russia’s Pacific export terminals and Chinese ports.