Russian oil revenues fell last month despite a boost in production to just below levels before the invasion of
The revenue fall came despite a rise in Russia’s exports of crude oil and products to 8.1m barrels a day, the highest level since April, two months after Russia invaded Ukraine. Industry watchers have questioned how effective the cap will be because Russian oil is already trading below $60 a barrel. The IEA said the country’s export crude blend, Urals, slid to about $43 a barrel as of early December.of its introduction, restricted access to insurance and shipping services for any buyers of Russian oil that refuse to adhere to the threshold.
Source: News Formal (newsformal.com)
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