MOSCOW, March 13. /TASS/. Russia boosted oil supplies by 90,000 barrels per day (bpd) in February despite the recent US sanctions, the International Energy Agency (IEA) reported. Meanwhile exports of petroleum products decreased by 190,000 barrels per day (bpd) month-on-month, while oil exports in general fell by 100,000 bpd.
Russia’s revenues from oil exports went down by $2.4 bln in February, or by 15%, due to a drop in global oil prices and an increase in the discount on Russian crude, according to the report.
In annual terms oil exports fell by 80,000 bpd last month, exports of petroleum products decreased by 420,000 bpd, while overall oil exports dropped by 490,000 bpd.
The recent US sanctions influenced Russia’s oil exports, though after a short period of uncertainty the volumes of supplies recovered, the report said.
Prices for Urals FOB Baltic oil are below the G7 price cap at around $55 per barrel, with the discount on the ESPO blend having decreased, while its cost being $2-3 higher than this cap of $60, the agency wrote.