Russia Faces Oil Export Decline Amid Tightened US Sanctions

Russia Faces Oil Export Decline Amid Tightened US Sanctions

Russian oil exports sharply declined in November, falling by 420 kb/d due to stricter US sanctions. As a result, Moscow's oil revenue decreased significantly. The International Energy Agency noted that the global supply also fell due to sanctions on Russia and Venezuela, while demand is forecast to rise in 2025.

Russian Oil Exports Drop Sharply in November as Sanctions Concerns Weigh on Buyers: IEA

Get latest articles and stories on Business at LatestLY. Russian oil exports saw a steep decline in November as buyers grew increasingly cautious over the risks linked to more stringent US sanctions, the International Energy Agency (IEA) said in its latest report. Business News | Russian Oil Exports Drop Sharply in November as Sanctions Concerns Weigh on Buyers: IEA.

Russian Oil exports drop sharply in November as sanctions concerns weigh on buyers: IEA

Russian oil exports saw a steep decline in November as buyers grew increasingly cautious over the risks linked to more stringent US sanctions, the International Energy Agency (IEA) said in its latest report.

Russian oil revenues hit lowest point since 2022

Russia's energy industry, which has been one of the country's key sources of income since the start of the war in Ukraine, is facing a sharp drop in revenue and production cuts. According to a report by the International Energy Agency (IEA), Russian revenues from exports of crude oil and refined petroleum products fell in November to the lowest level since the beginning of the invasion of Ukraine in 2022. This decrease in income is the result of…