Russian Oil Exports Keep Falling as Ukraine Drones Hit Key Terminal

Russian crude shipments dropped for a fifth straight week, with no cargoes loaded from the major Novorossiysk oil terminal in the seven days to August 16, according to shipping data. The extended slump points to mounting pressure on Moscow’s export capacity as Ukrainian drone strikes disrupt operations at one of its most important Black Sea outlets. The halt at Novorossiysk, a key hub for Russian and Kazakh crude, has forced traders to reroute supplies and raised concerns about delivery delays to global buyers. While overall export volumes have not collapsed, the repeated interruptions signal growing vulnerability in Russia’s energy logistics network. Analysts say the pattern could persist if attacks continue, adding further strain to an already tight global oil market.