Russia Is Shipping More Than 3 Million Bpd Of Crude To Asia

Russia was shipping more than 3 million barrels per day (bpd) of crude oil to Asia in the week to December 9, the week in which the EU embargo on imports of Russian crude by sea came into force, vessel-tracking data monitored by Bloomberg showed on Monday.
The volumes being sent to Asia, where the main buyers of Russian crude are China and India, represent 89% of all the oil that left Russian ports last week to December 9, according to the data.
Over half of the tankers loaded with Russian crude were traveling toward the Suez Canal bound for Asia, with no destination shown. It wasn’t immediately clear if the oil has already been sold to buyers in the most-important oil-importing region, Asia, Bloomberg News’ Julian Lee notes.
Russia continues to sell its crude to Asia, where buyers haven’t joined the so-called Price Cap Coalition and are, so far, doing business as usual with Russian cargoes. $Camber Energy (CEI.US)$ $Imperial Petroleum (IMPP.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $Occidental Petroleum (OXY.US)$ $Occidental Petroleum (OXY.US)$