Russia’s oil exports hit 3-year-high in March, revenues up $1 billion: IEA

MOSCOW: The International Energy Agency (IEA) on Friday said Russia’s oil exports reached the highest level since April 2020 in physical terms in March 2023 due to an increase in supplies of oil products, while export revenues rose by $1 billion compared with February to $12.7 billion, according to TASS, a Russian news agency.

Russia’s supplies by sea grew by 0.6 million barrels per day to 8.1 mn barrels per day, the agency said, adding that deliveries of petroleum products rose by 450,000 barrels per day month-on-month to 3.1 million barrels per day.

Meanwhile, Russia’s revenues from oil exports added $1 billion in March, but decreased by 43 per cent in annual terms, the IEA noted.