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Russia Earns Less Despite Higher August Oil Flows, IEA Says

  • Revenue from oil exports fell $1.2 billion from July: IEA
  • Russian budget revenue fell to 14-month low in August
Updated on

Russia’s oil-export revenue contracted to $17.7 billion in August, the lowest since at least March, as a decline in crude prices more than offset higher supplies abroad, according to the International Energy Agency.

That’s a drop of $1.2 billion from a month earlier, even as Russia’s daily crude and oil products exports rose by 220,000 barrels to 7.6 million barrels, the IEA estimated.