Russia’s Shipping Crude Oil Like Mad Ahead Of Sanctions

Russia’s seaborne crude oil exports spiked to a five-month high last week as buyers scrambled to get their hands on as much cheap Russian crude oil as they could ahead of the sanctions that go into effect next month, according to Bloomberg. Russia’s crude oil seaborne exports increased to 3.6 million barrels per day, Bloomberg said on Monday—the highest level since early June. Even the four-week average hit a high not seen since August of 3.18 million bpd. The figures include Russian oil only, and not Kazakhstan’s KEBCO.…