Russian crude exports averaged 2.99 million b/d in the month, down 290,000 b/d on the August levels and lowest since September 2021 when global oil demand was still recovering from pandemic lockdowns, according to S&P Global Commodities at Sea data. The data excludes Russia’s small share of Kazakhstan’s CPC Blend exports. Russian flows to the Netherlands — home to Europe’s biggest refining hub — fell by more than half on the month to 165,000 b/d in September, down from 390,000 b/d in August and from pre-war levels of about 525,000 b/d, the Commodities at Sea data shows. European buyers have been shunning Russian oil ahead of the EU sanctions on imports of Russian crude and products, which are set to kick in on Dec. 5 and Feb 5, 2023, respectively. Overall, Russian crude cargoes bound for Europe have now sunk below 1 million b/d for the first time since […]