Russia's Arctic Oil Exports Surge 50% as Red Sea Crisis Diverts Flows

Russia's oil exports via the Northern Sea Route have jumped nearly 50% year-on-year, with about 20 million barrels shipped to Asia between July and mid-October 2026. The increase is driven by the ongoing Red Sea freight crisis, which has made the Arctic route more competitive. This shift underscores Russia's ability to reroute energy flows and may tighten global tanker supply, with implications for oil prices and shipping costs.