Russia's Oil Export Revenues Have Fallen to a Minimum Since February 2022
Last week, revenue from oil exports amounted to approximately $959 million, which is $500 million less than at the beginning of October.
Analysts attribute this decline to a sharp increase in discounts on Russian Urals crude oil, caused by sanctions. Previously, the discount compared to the benchmark Brent crude was 5-15%, but now it has reached about 50%.
In addition, the decrease in revenues and prices is occurring against the backdrop of limited access for Russia to its usual markets and rising logistics costs.
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