Russia Oil Revenue Up 50% This Year Despite Boycott, IEA Says
- Moscow earns about $20 billion each month from oil sales
- Supply losses may still triple as new embargoes take effect
Russian oil shipments have continued even as the EU edges towards an import ban.
Source: Bloomberg
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Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said.
Moscow earned roughly $20 billion each month in 2022 from combined sales of crude and products amounting to about 8 million barrels a day, the Paris-based IEA said in its monthly market report.