Russia’s Crude Oil Shipments Plunge to 11-Month Low

Russian seaborne crude oil exports have dropped to their lowest level since August 2023, as Russia’s refinery runs are rising and Moscow is working to comply with its OPEC+ production quota, tanker-tracking data monitored by Bloomberg showed on Tuesday. The four-week average crude shipments from Russia’s export terminals dropped in the four weeks to July 21 to the lowest level since August of 2023, according to the data reported by Bloomberg’s Julian Lee. The estimated four-week average of the shipments in the week to July 21…