Russia’s seaborne crude exports maintained a multimonth high in the four weeks to April 21 as the country’s refineries struggled to recover from flooding and Ukrainian drone attacks. Oil processing is near the lowest since May last year after floods forced the Orsk refinery offline, while runs at plants damaged by military strikes continue to lag normal levels, encouraging diversion of crude supplies into exports. The April loading program at the key Baltic ports has been revised to the highest since May 2023. Moscow has been able to maintain export levels to major customers such as China and India even as the US ... (full story)