Russian Oil Stuck at Sea Booms as Tanker Logjams in Asia Expand

Russia’s crude exports hit the highest in over 2 ½ years, but delays in offloading cargoes saw another jump in oil held on tankers, with a build-up of vessels anchored off the coasts of India and China.

While four-week average flows climbed to the highest since May 2023 in the period to Dec. 21, delivering cargoes remains a challenge, with the amount of oil at sea jumping 48% since the end of August. At least 20 tankers hauling Moscow’s crude are awaiting permission to dock at Chinese and Indian ports, while others have taken months to deliver their cargoes.

Four-week average shipments have been on an upward trend in ...