The Wall Street Journal reported that Russian offshore oil exports fell 22% in December.
The newspaper pointed out, based on data from Kpler, that in December Russia exported about 2.5 million barrels of oil per day by sea, which is 22% less than in the last 11 months.
The newspaper added that the decrease in exports by sea is taking place against the backdrop of the establishment of a price ceiling for Russian oil by Western countries.
According to a Kpler analyst, among the reasons for the decline are severe weather conditions and falling demand in China.
It is noteworthy that the G7, the European Union and Australia set a price ceiling for Russian oil at $60 per barrel from December 5th.
In response, Russian President Vladimir Putin signed a decree banning oil exports to countries with a price ceiling effective February 1.
Source: Wall Street Journal