Russia Oil-Export Revenue at Lowest Since 2023 as Prices Slump

Russia’s oil-export revenues in April fell to the lowest in nearly two years as global crude prices declined amid sluggish demand, according to the International Energy Agency.

The nation earned $13.2 billion from the export of crude oil and petroleum products last month, the lowest since June 2023, the Paris-based agency said in its monthly market report on Thursday. The decline came as the average-weighted price for Russian crude slumped further down in April, reaching $55.6 a barrel, well below the price-cap imposed by the international Group of Seven nations, the IEA estimated.