Vladimir Voronin / AP
- Russia's crude oil flows climbed to new highs in the four weeks leading up to May 5, Bloomberg data shows.
- Most of those barrels are heading to China and India, which have been buying up discounted supplies.
- Moscow threatened production cuts three months ago, but there's been little evidence of follow-through.
Russia's crude shipments continued to climb despite Moscow's threat of production cuts three months ago.
In the latest four-week stretch to May 5, seaborne flows reached 3.55 million barrels a day, the highest mark since Bloomberg began tracking the data in early 2022.
Nearly all of Russia's crude exports were sent to China and India over the last month, and volumes to Asia also moved to a new high.