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International Energy Agency: Russia’s Oil Revenues Fall Despite Increased Export Volumes

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International Energy Agency: Russia's Oil Revenues Fall Despite Increased Export Volumes

International Energy Agency: Russian oil revenues fall despite increased export volumes

The International Energy Agency, in its latest monthly report, states that Russia’s oil and oil product exports surged last month, reaching levels seen before the military invasion of Ukraine, but its oil revenues have significantly fallen.

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International Energy Agency: Russian oil revenues fall despite increased export volumesEnglish

This report, published on Friday, April 14, adds that the reason for the increase in Russia’s oil exports is the surge in sales of its oil products, with the country exporting a total of 8.1 million barrels per day last month, of which 3.1 million barrels were oil products.

The International Energy Agency’s report mentions that this is the highest figure since April 2020, although Russia’s oil export revenues have dropped by 43% compared to March last year, reaching $12.7 billion.

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