According to the vessel tracking data collected, the volume of Russian crude oil shipments by sea over the past month has dropped significantly compared to February.
As Bloomberg reports, by July 16, this figure had fallen to 3.1 million barrels per day. This is 270 thousand barrels below the level recorded in February, before Russia announced a voluntary reduction in production, when it was 3.38 million barrels per day.
By the same time the volume of supplies to Asia fell to 2.77 million barrels per day, to India - to 1.75 million barrels.
Recall that in mid-February, Deputy Prime Minister Alexander Novak announced Russia's plans to reduce oil production by 500 thousand barrels per day in March, after that the reduction was decided to extend until the end of 2023. Novak also stressed that production in the current year will be reduced by 20 million tons, to 515 million tons.