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Commodities Score 58 Bearish

Russian Crude Exports Surge as Port Disruptions Recede

Apr 28, 2026 11:54 UTC
CL=F, BZ=F
Short term

Russia's seaborne oil shipments reached 3.52 million barrels per day in late April, marking a monthly high. The increase follows a shift in Ukrainian drone targets from export terminals to refining infrastructure.

  • Daily exports averaged 3.52 million barrels
  • Highest shipment levels seen in over a month
  • Tuapse refinery hit three times in April
  • Yaroslavl refinery targeted last week
  • Refinery outages are driving higher crude export volumes

Russian crude oil exports have rebounded to their highest level in over a month, as the operational impact of Ukrainian drone strikes on export facilities has diminished. In the four-week period ending April 26, Russia shipped an average of 3.52 million barrels per day via sea, signaling a stabilization of the logistics chain used to move crude out of the country. This recovery in export volumes is partly attributed to a strategic shift in Kyiv's targeting. Recent military actions have focused more heavily on refining capacity rather than the ports themselves. Specifically, the processing plant at Tuapse on the Black Sea was struck three times in April, and the refinery at Yaroslavl was targeted last week. From a market perspective, the degradation of refining infrastructure creates a paradoxical effect on global supply. By reducing Russia's internal processing rates, these strikes effectively free up larger volumes of raw crude that would otherwise be consumed domestically. Consequently, this surplus is diverted toward the global export market, potentially adding downward pressure on crude prices.

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