Russia’s crude export revenue fell to its lowest in two years amid falling energy prices, Bloomberg reports.
According to tanker data, Russia’s average crude shipments totaled 3.39 million barrels per day in the four weeks to May 25, down just 10,000 barrels from the previous period. However, the total value of export shipments was the lowest since April 2023.
Crude export revenue fell $20 million (1%) to $1.26 billion in the week ending May 25. At the same time, the value of Russia’s seaborne crude exports has been declining for more than 13 months in a row.
Since April 21, 2024, when export revenues were around $1.95 billion per week, the price of Russian oil has fallen 28%, while shipments have fallen about 8%. Bloomberg notes that it is unclear to what extent sanctions have affected these figures.
Recall that in April, Russia received $13.2 billion from crude oil and oil product exports — the lowest figure in almost two years. The State Duma is again discussing the possibility of raising taxes to replenish the federal budget amid a significant decline in oil and gas revenues in 2025.
Բաժանորդագրվեք մեր ալիքին Telegram-ում
