Russian Oil Exports Shift in November as Baltic Surge Offsets Southern Slump

Russian oil exports underwent notable shifts in November, as total seaborne oil product shipments edged slightly lower while flows between key ports changed sharply.

Industry data showed Russian oil seaborne exports slipped 0.8% month on month to about 7.494 million metric tons, with higher Baltic shipments offsetting the impact of drone attacks and refinery maintenance.

Despite the modest overall decline, Russian oil flows varied widely by port, reflecting security disruptions and operational recoveries that reshaped export routes.

Baltic Ports Drive Growth

Fuel exports from Baltic Sea ports surged 20.6% to 4.697 million tons, supported by the full restoration of Novatek’s Ust-Luga complex, underscoring the growing strategic role of the Baltic in Russian oil trade.

Southern Route Slumps

By contrast, shipments via Black Sea and Azov Sea ports plunged 30.2% to 2.062 million tons after drone-related damage disrupted operations, while Arctic and Far East ports recorded gains, highlighting the ongoing rebalancing of Russian oil export pathways.