MOSCOW (Realist English). Russian oil exports in June fell by 250 kb/d m-o-m to 7.4 mb/d, the lowest since August 2021. This time, the decline was led by crude oil, while product shipments were relatively stable at 2.4 mb/d, this is stated in the July report of the International Energy Agency (IEA).
Meanwhile, export revenues increased by $700 million m-o-m on higher oil prices, to $20.4 billion, 40% above last year’s average.
In June, compared with the peak level in April, the total volume of Russian exports of oil and petroleum products decreased by 530 thousand barrels per day, or 7%, but export revenues increased by $2.3 billion dollars (13%).
At the end of May, Deputy Prime Minister Alexander Novak said that oil production in Russia this year might decrease to 480-500 million tons from 524 million tons in 2021.
В конце мая вице-премьер Александр Новак сообщил, что добыча нефти в России в текущем году может снизиться до 480–500 млн тонн с 524 млн тонн в 2021 году.
