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Russia Struggles to Boost Oil Flows After Black Sea Port Hobbled

Julian Lee, Sherry Su
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⚡ Quantum Brief
Russia’s oil exports dropped to 3.22 million barrels daily in early April 2026 as drone strikes crippled its Black Sea port of Novorossiysk, halting key loading operations. The attacks targeted Novorossiysk’s two largest berths, leaving them inactive for most of the week with no immediate restart expected, disrupting critical export routes. Baltic port Ust-Luga resumed shipments after prior drone strikes, but the Black Sea halt offset gains, limiting Russia’s ability to leverage surging global oil prices. Ukrainian drone campaigns continue to strain Russia’s oil infrastructure, forcing shifts between ports but failing to fully restore export capacity amid persistent disruptions. The timing of the strikes—coinciding with Baltic recoveries—highlights vulnerabilities in Russia’s export network, undermining efforts to maximize revenue from high crude prices.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Another key site halted by drone strikes just as Baltic terminals ramp upRussia shipped 3.22 million barrels a day of crude in the four weeks to April 12, with key Black Sea port halted by drone strikes.Russia is struggling to capitalize on soaring oil prices, with exports from its key Black Sea port halted just as flows from the Baltic recover after earlier Ukrainian drone strikes.While shipments from the Baltic port of Ust-Luga resumed after multiple attacksBloomberg Terminal in recent weeks, that came just as loading operations at Novorossiysk on the Black Sea were stopped by more raids. The terminal’s two largest berths remained out of operation for most of the week, with no sign of their imminent restart.

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