MOSCOW, January 18. /TASS/. Russia exported record-breaking volumes of diesel fuel in December 2022 at 1.2 mln barrels per day (bpd), 60% of these supplies were transported to European countries, according to the report from the International Energy Agency (IEA).
At the same time, the agency underlined that the market for oil products, particularly diesel fuel, is most vulnerable as a result of Western sanctions imposed on Russia's oil industry. However, supplies from new factories in the Middle East and China will help to alleviate the situation, the IEA said.
At the same time, the total physical volume of Russian oil exports in December 2022 decreased by 200,000 bpd to 7.8 mln bpd. Export revenues fell by $3 bln to $12.3 bln, the lowest figure since February 2021. The agency attributes the decline in revenues to a high discount on Russian export-grade Urals oil, which, according to the IEA, reached $40 per barrel in December.
Oil production without gas condensate in Russia in December decreased only by 30,000 bpd to 9.77 mln bpd, despite the entry into force of the EU embargo on the supply of Russian oil and the price cap for it, the IEA noted. In general, the agency estimated the volume of liquid hydrocarbon production in Russia in December at 11.2 mln bpd, which is only 190,000 bpd lower than before the start of the special military operation in Ukraine.