Russia’s seaborne crude flows have plunged so far in September; lower export duty rates in October will be another hit to revenue Russia to Flood Asia With Fuels Russia’s seaborne crude exports have fallen sharply in the first half of September, hit first by a storm in the Pacific and then by an unexplained decline in shipments from the Baltic. Flows to the big Asian buyers — China and India — aren’t offsetting a drop in volumes for Europe. Crude shipped from Russia’s ports has fallen by almost 900,000 barrels a day in two weeks, averaging 2.54 million barrels a day in the week to Sept. 16, compared with 3.42 million in the seven days to Sept. 2. Using a four-week moving average to smooth out variability in the figures, shipments fell below 3 million barrels a day for the first time in more than five months. If cargoes […]