Russia's Oil Exports Have Decreased Modestly Since 2022, Shifting Towards Asia

From 2020 to 2024, crude oil and condensate exports from Russia averaged 5.0 million barrels per day (b/d). Exports from Russia within the first half of 2025 (1H25) had been 4.3 million b/d (in contrast with 4.8 million b/d in 2024). Whilst crude oil export volumes from Russia have remained comparatively excessive, the vacation spot of those exports has shifted, primarily on account of sanctions associated to Russia’s full-scale invasion of Ukraine in February 2022.

**Information supply:** U.S. Power Info Administration evaluation based mostly on World Commerce Tracker, Argus, and Vortexa. **Word:** Information for 2025 are preliminary. 1H25=first half of 2025. determine knowledge

Europe obtained 51% of Russia’s crude oil and condensate exports in 2020. Nevertheless, this quantity fell to 12% in 2024 and 11% in 1H25. Over half of Russia’s exports to Europe went to Türkiye in 2024 and 1H25.

This decline in exports from Russia to Europe was offset by a rise in exports to Asia and Oceania. In 2020, Asia and Oceania obtained 41% of Russia’s crude oil and condensate exports, with a lot of the exports going to China by pipeline. In 2024, Asia and Oceania obtained 81% of Russia’s crude oil and condensate exports, with China and India accounting for the overwhelming majority.

Exports from Russia to China elevated by 500,000 b/d between 2020 and 2024, and China stays the most important importer of Russia’s crude oil and condensate, averaging 2.2 million b/d in 2024 and a couple of.0 million b/d in 1H25. In 2024, India was the second-largest recipient for crude oil and condensate from Russia and is essentially accountable for the expansion in Asia. Exports from Russia to India elevated from about 50,000 b/d in 2020 to 1.7 million b/d in 2024 and averaged 1.6 million b/d in 1H25.

**Information supply:** U.S. Power Info Administration evaluation based mostly on World Commerce Tracker, Argus, and Vortexa. **Word:** Particular person percentages won’t add to the entire due to rounding. Determine excludes labels for percentages lower than 5%. Information for 2025 are preliminary. 1H25=first half of 2025. determine knowledge

On August 6, U.S. President Donald Trump issued an government order making use of tariffs on India for continued exports of Russia’s oil. Implementation of the extra tariffs or different sanctions could have an effect on export volumes out of Russia.

Principal contributors: Justine Barden, Hilary Hooper

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