Russian oil revenues nearly cut in half from spring 2022 – IEA ...News

The decline comes after Russia voluntarily slashed its oil output, data shows Russian oil exports dropped to their lowest levels in two years, with revenues also tumbling, a report by the International Energy Agency (IEA) published this month shows. Moscow’s shipments of crude and petroleum products fell by 600,000 barrels per day (bpd) in June to 7.3 million bpd – the lowest level since March 2021, according to data. Export revenues nearly halved last month to $11.8 billion, compared to $20.4 billion in June 2022. The agency suggested in its monthly Oil Market Report, however, that Russian oil output in August ma

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