Russian oil exports added 270,000 barrels per day from October to a seven-month high of 8.1 million barrels per day in November, the Paris-based International Energy Agency (IEA) said today in its latest Oil Market Report.
Crude oil loadings were unchanged on the month, the agency found, estimating Russian export revenues shed $0.7 billions to $15.8 billions “on lower prices and wider discounts for Russian-origin products.”
November was the last month before the implementation of a Dec. 5 EU ban on seaborne Russian crude oil exports.
— Ruxandra Iordache
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