Oil exports from Russia's western ports hit a 4-year high in April

Informed sources in trade and shipping said that oil shipments from Russia's western ports recorded their highest level since 2019, exceeding 2.4 million barrels per day in April, despite Moscow's pledge to cut production.

Russian crude exports and transit from the ports of Primorsk, Ust-Luga and Novorossiysk in April will rise to more than 10 million tons, up from 9.7 million tons in March.

Russian Deputy Prime Minister Alexander Novak said on February 10 that Russia would cut production by 500,000 barrels per day in March and then promised in early April to extend the cuts until the end of the year. India and China have captured the vast majority of Russian oil so far in April at prices above the price ceiling. West of $60 a barrel.