Russian crude exports edge down 1% in May amid stable Chinese demand in Freight News 06/06/2026 Russia’s seaborne crude exports were broadly stable on the month in May, amid steady deliveries to China and as a plunge in shipments to India was offset by gains in other directions. The country’s exports by sea in May were 4.036 million b/d, down 1% on the month and up 10% on the year, data from S&P Global Commodities at Sea(opens in a new tab) showed June 4. May exports to China were up 1% on the month at 905,000 b/d, with exports to India down 46% on the month at 1.217 million b/, and to Turkey down 57% on the month at 57,000 b/d, CAS data showed. Exports to Singapore leapt 279% on the month to 621,000 b/d, CAS data showed. Platts, part of S&P Global Energy, assessed Urals crude on a FOB basis at Primorsk at an average discount to Dated Brent through May of $21.00/b; it had narrowed from $30.15/b in April. Platts assessed the discount at $24.06/b June 3, against a five-year average of $19.42/b. Russian ESPO Blend crude loadings from the Kozmino port rose by two ships month over month to what was likely a record-high of 43 ships in May, with India maintaining a relatively high level of imports, compared with prior to the Middle East war, CAS data showed June 2. Chinese demand is expected to remain sluggish in the near term. Chinese refineries are likely to extend the downtrend in crude throughput in June due to reduced feedstock supply, low oil products demand and high domestic inventories. Looking ahead, OPEC+ ministers are scheduled to meet June 7 at their first full meeting since war broke out in the Middle East, with oil price volatility and disruptions to supply posing major challenges for the group in the second half of the year. Export bans Russian seaborne product exports in May were 1.993 million b/d, down 2% on the month and down 12% on the year, CAS data showed. Export volumes from the Black Sea region contracted on the month, while exports from Russ