Despite a decrease in “Sokol” oil supplies, overall Russian oil exports have surged to their highest level in nearly four months, according to Bloomberg.

This increase is attributed to a sharp rise in “VSTO” oil supplies, compensating for the absence of “Sokol”. Bloomberg estimates that the four-week average supply volumes exceeded Moscow’s promised export target by approximately 190,000 barrels per day.

Weekly supply volumes have risen by 365,000 barrels per day to 3.5 million, surpassing the target by 215,000 barrels per day.

The temporary absence of “Sokol” shipments is explained by a shortage of tankers needed for oil transportation. Indian oil refineries, fearing US sanctions and complaining of high costs, are among those affected.

While three shipments of “Sokol” oil have been delivered to India this month, with several redirected to China, at least 14 shipments, totaling around 10 million barrels, remain on ships.

The value of Russian oil exports has increased to a three-week high, rising to $1.73 billion in the week ending February 25, up from $1.55 billion the previous week.

The average income over four weeks continues to rise, increasing by $115 million to $1.7 billion per week.

Approximately 1.45 million barrels of oil per day were loaded onto tankers bound for China, with maritime imports to the Asian country increasing by 800,000 barrels per day.

This oil is supplied from Russia via pipelines directly or through Kazakhstan.

Shipments bound for Indian ports average around 905,000 barrels per day.

It is expected that both Chinese and Indian indicators will continue to grow as unloading ports become available for vessels not currently specifying their final destinations.

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Read also – Sokol: India Resumes Russian Oil Imports After 2-Month Suspension

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