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    Prima pagină » „Crash on the oil market: Russia is losing 700 million dollars weekly”
    Foreign Affairs

    “Crash on the oil market: Russia is losing 700 million dollars weekly”

    16 April 2025
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    “The collapse of prices for Urals oil and the reduction of production within the OPEC+ agreement have severely affected Russia’s export revenues.

    According to Bloomberg, which analyzed Argus data and maritime oil transportation statistics, in the four weeks ending on April 13, revenues for Russian oil companies from selling oil abroad have dropped to their lowest level since July 2023.

    The average volume of Russian oil exports decreased to 3.13 million barrels per day, a 10% decrease (or 320,000 barrels per day) from mid-March. The average weekly revenue from oil exports reached $1.29 billion. Compared to a month ago, earnings have decreased by 10%, and compared to April 2024, by over a third, resulting in a loss of approximately $700 million per week.

    The actual collapse of revenues occurred in the second week of April, when the price of Urals oil – the main variety exported by Russia – temporarily fell below $50 per barrel. Sales prices dropped significantly on all export routes: by $9.1/barrel in the Baltic Sea, $9.4 in the Black Sea, and $9.7 in Pacific ports.

    This decrease has reduced the weekly revenues of Russian exporters by $220 million and threatens the state budget, which has already lost 17% of its oil and gas revenues in March compared to the same period last year.

    Details, HERE”

    "#Crash" "#economy" #gasoline" #market #Rusia
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