NEW DELHI: Sanctions on Russian oil by Western countries failed to have any major impact as the country’s oil export soared in March 2023 to the highest level since April 2020.According to the monthly oil market report by the International Energy Agency (IEA), the oil shipments rose by 0.6 million barrels per day (mb/d) to 8.1 million barrels a day, with crude supply climbing 450 kb/d (thousand barrels per day) month-on-month to 3.1 million barrels per day. Russia’s revenue in March 2023 from oil export rebounded by USD 1 billion to USD 12.7 billion, but was 43% lower than a year ago.
