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Russia Earns More Despite Lower Oil Exports in June, IEA Says

  • Revenue from oil export rose $700 million from May: IEA
  • Russian budget oil and gas revenues fell amid stronger ruble

Russia’s oil exports rose back above $20 billion in June despite lower shipments abroad because of a rally in energy prices, according to the International Energy Agency.

That was an increase by $700 million from a month earlier, even as Russia’s daily exports of crude-oil and products fell by 250,000 barrels to 7.4 million barrels, the lowest since August, the IEA estimated in its monthly report published on Wednesday.