May 29, 2023
Russian oil
┬ęCollage /Shutterstock/Fotodom

The export of Russian oil and oil products in April increased by 50 thousand barrels per day compared to March, to 8.3 million barrels, and became the highest since February 2022. At the same time, export earnings decreased by 27% compared to 2022, to $15 billion. Such data were distributed by the International Energy Agency (IEA) on May 16.

“Oil supplies increased by 250,000 barrels per day, while the export of petroleum products decreased by about 200,000 barrels per day,” he was quoted as saying. “Prime” excerpt from the agency’s report.

Estimated income of Russia from oil exports, according to the agency, increased by $1.7 billion by March, to $15 billion. At the same time, last month the decline in income in annual terms was 40%.

According to the IEA, China and India have become the largest buyers of Russian oil in the Asian market. Countries increased their purchases of raw materials to an average of 2 million barrels per day. 400,000 barrels of oil and oil products per day were supplied to European countries (Hungary and Slovakia), and 180,000 barrels per day to Turkey. Middle Eastern countries, states of South America, Africa and Southeast Asia also remain importers of Russian raw materials.

Last year, OPEC countries excluded the agency data from their calculations. The Russian government explained that the IEA reports biased data.

Earlier, the EU announced the need taking action in relation to India buying oil from the Russian Federation. Brussels claims that the Indian authorities are refining Russian raw materials and reselling them to Europe.

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