In February, russia broke new low in terms of oil revenues since 2022

In February of this year, the aggressor country russia's oil revenues fell to the lowest level since the start of the full-scale invasion of Ukraine in 2022. Bloomberg writes about it with reference to the report of the International Energy Agency (IEA).

In February, russia earned USD 9.5 billion from the sale of crude oil and petroleum products. This is USD 1.5 billion less than in January of this year.

According to the IEA, in February, the total volume of russian oil exports decreased by 850,000 barrels per day to 6.6 million barrels per day. This is also one of the lowest figures since 2022.

At the same time, Ukraine's attacks on russia's oil refining infrastructure led to the fact that moscow was forced to reduce the processing of raw materials by 300,000 barrels per day to 5.1 million barrels per day. This also contributed to a decline in exports and revenues.

As a result of the above, russia's daily oil production decreased by 710,000 barrels per day. The aggressor country produced an average of 8.55 million barrels of oil daily. This is 1 million barrels per day less than russia could have produced in February under an agreement with the Organization of the Petroleum Exporting Countries (OPEC) and its partners. The IEA now estimates russia's daily oil production at 9.2 million barrels per day.

As the Ukrainian News agency earlier reported, on March 6, Bloomberg wrote, citing market participants, that the continuation of the war between Israel and the United States against Iran may raise the price of oil above USD 100 per barrel, which will benefit russia.

As a reminder, the day before, Iran called on the world to prepare for USD 200 per barrel of oil if the war against it continues.

Yesterday, March 11, it became known that the IEA member states agreed to release 400 million barrels of oil from their strategic reserves.

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