In June 2026, Russia experienced a 1% month-on-month reduction in its fossil fuel export revenues, totaling EUR 734 million per day. This decline occurred despite a 7% increase in the overall volume of fossil fuel exports. Specifically, crude oil export revenues saw an 8% decrease month-on-month, while crude export volumes rose by 14%. This increase in crude volumes was primarily driven by a substantial 68% month-on-month surge in crude loadings from Black Sea ports.
For freight forwarders and logistics professionals, this data indicates potential shifts in vessel demand and routing, particularly for crude oil tankers. The increased loadings from the Black Sea could lead to higher traffic and potentially longer wait times or altered scheduling for vessels operating in that region. While overall revenue is down, the rise in physical volumes suggests continued, albeit less profitable, activity for carriers involved in Russian fossil fuel transport. Forwarders should monitor crude oil freight rates and capacity availability in the Black Sea and associated trade lanes, as increased volume might not necessarily translate to higher rates if the revenue per barrel is declining.
