Russia’s Crude Flows Surge to the Highest in More Than Two Years

The article highlights that Russia's crude oil exports have reached their highest level in over two years. This surge in crude flows is attributed to two main factors: 1. Rising production: Russia's oil production has increased, contributing to the higher export volumes. 2. Ukrainian attacks on oil refineries: The article suggests that the attacks on Ukrainian oil refineries have led to a redirection of Russian crude oil to other markets, further boosting the country's crude exports. The article notes that the increase in Russian crude flows comes at a time when the West has imposed various sanctions on the country, including an EU ban on Russian seaborne oil that took effect in December 2022. However, the article does not provide detailed information on the impact of these sanctions or the potential long-term effects on Russia's oil industry. Overall, the article focuses on the current surge in Russian crude oil exports, highlighting the two main factors contributing to this trend.