Surge in stranded Russian oil due to sanctions
after close1 source ↓written by the desknot a recommendation
- currently at sea
- 1 billion barrels
- of this increase
- 40%
- of Russian oil
- 1.4 million barrels per day
- compliance deadline
- 21 Nov 2023
The volume of oil stranded on tankers globally has surged, with 1 billion barrels currently at sea. Notably, 40% of this increase is attributed to sanctioned producers, primarily Russia. Fresh sanctions on Rosneft and Lukoil have exacerbated the situation, with 1.4 million barrels per day of Russian oil now stuck on tankers ahead of a compliance deadline on 21 Nov 2023. This shift is reshaping global crude logistics.
Not investment advice. For informational purposes only.