Categories: Economy

Russian oil exports increased before the application of the maximum price

The International Energy Agency (IEA) announced that Russia’s oil exports increased in November, ahead of December 5, when the G7 countries, the European Union (EU) and Australia implemented price caps for Russian oil. .

The IEA said Russia’s oil revenue fell $700 million to $15.8 billion, driven by lower world prices and higher discounts for Russian oil.

The Paris-based energy regulator announced that it continues to stand by its IEA forecast that Russia’s oil production will decline by 1.4 million barrels a day next year due to the price cap.

The IEA increased its expectation of growth in global oil demand for this year by 140,000 barrels per day to 2.3 million barrels, while for 2023 it increased by 100,000 barrels to 1.7 million barrels. (Reuters)

Source: Sozcu

Andrew

Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.