Russian Oil Sales Collapse

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Oil exports from Russia in January in monetary terms fell by 42.8% compared to last year (to $ 5.708 billion) and physical exports fell to 15.849 million tons (minus 27.1%), as it follows from the data of the Federal Customs Service

Sales of petroleum products increased by 6.7% (to 12.319 million tons), but in monetary terms they decreased by 19% (to $ 4.415 billion). Physical exports of gasoline decreased by 29.8 percent and diesel fuel – by 7.1 percent. At the same time, electricity supplies increased by 43 percent.In general, Russia’s foreign trade turnover in January fell by 8.7% compared to last year (to $ 43.4 billion). Exports fell 14.9% and imports rose three percent. 

Caspian Barrel