Russia earned $15.3 billion in July from its highest oil exports since November last year. This should From a report by the International Energy Agency.
Russia reduced its fuel exports by 200,000 barrels per day in July, but its monthly revenue increased by $2.5 billion.
“In July, Russian oil exports remained stable at around 7.3 million barrels per day. The decline in crude oil supply was offset by an increase in the supply of petroleum products. Higher oil prices and reduced discounts on Russian grades led to increased revenues, the document said.
At the same time, Russia’s revenues from fuel supplies abroad decreased by $4.1 billion annually, most of which – 80% – fell on China and India.
The IEA noted that Russia “overcompensated” with its decision to voluntarily reduce oil production by 500,000 barrels per day.
Deputy Prime Minister of the Russian Federation Alexander Novak August 4 declaration It’s about the unprecedented growth in oil demand in 2023 after the global economy recovers from the COVID-19 pandemic. According to him, world oil consumption has already exceeded the pre-pandemic level in 2019 and reached 102.4 million barrels per day. Demand could increase by another 2.4 million barrels this year, an unprecedented figure. The deputy prime minister predicted that demand will increase by another 2.2 million barrels next year.
old russia announced About another drop in oil exports in September.