Russia waterborne crude exports shuffle in response to sanctions

In this insight we highlight Wood Mackenzie’s growing crude and refined products real-time data and analytics, leveraging Vessel Tracker and Genscape capabilities which are now part of Wood Mackenzie. Russia’s invasion of Ukraine highlighted the significant role Russia plays in supplying global crude and product markets. Our recently launched Russia Waterborne Crude Service complements our existing European Waterborne Product Service. By leveraging our Vesseltracker data and market intelligence we provide real-time insight into total Russian crude and product waterborne exports. Russian waterborne crude exports hit post-pandemic highs in Q2 2022 despite the impact of self-sanctioning by Western companies and G7 countries. In contrast to crude exports, refined product exports have declined sharply since February's peak levels. Analysis of our data shows the emergence of new markets for Russian crudes, gaining market share at the expense of Middle East grades.