The four-week average for Russian crude oil exports reached 3.54 million barrels per day by September 13, marking the largest weekly growth since mid-May. This increase followed drone attacks on the Saudi East-West Crude Oil Pipeline on September 10–11, which caused Brent crude prices to rise to $108–109 per barrel.
The Saudi pipeline, which typically transports 4–5 million barrels per day, faces repair timelines of 4–8 weeks. This disruption affects approximately 4% of global oil demand. In the week ending September 13, Russia loaded 27.06 million barrels of crude onto 38 tankers.
Russia's weekly export revenue increased by approximately $180 million, reaching a total of $1.9 billion. This figure represents the highest weekly earnings for the country since late June. Domestic refining capacity in Russia has been reduced due to drone strikes on local refineries, leading to higher volumes of raw crude being exported.
China and India continue to purchase Russian crude oil. The current global price spike allows Russia to partially offset the loss of domestic refining capacity by selling more raw crude at higher prices.
