In August 2023, Russia’s income from exports of oil and oil products increased by 11.8% to 17.1 billion dollars, or 1.8 billion dollars compared to July. The IEA reports this in its own report. review.
This is the highest figure since October last year and the highest in recent months. Despite this, the export volume of oil and petroleum products decreased by 150 thousand barrels. rose to 7.2 million barrels per day. Daily prices made up for this. Thus, while the average price of the Urals in August was 70 dollars per barrel, by the beginning of September it reached 75 dollars per barrel. This happened against the background of a decrease in Russia’s production and exports, as well as similar actions by Saudi Arabia.
The Urals discount to the Brent marker is approximately $15 per barrel, which is below the end-2022 level of $30-40 per barrel. Supply to India, the largest importer of Russian oil, decreased by 300 thousand barrels. up to 1.8 million barrels per day. daily due to rising prices.
On the eve of the US Department of Energy augmented It is predicted that the Brent oil price will be 84.46 dollars in 2023.
Previously in Russia appreciated Urals oil exceeded the ceiling price of $60 per barrel.