Russia Raises 2024 Oil Export Projection to 3.7 Quadrillion

Russia’s Economy Ministry revised up its projection for oil and gas export revenues by $17.4 billion to $239.7 billion from its previous estimate, supported by a more optimistic price outlook, according to a document obtained by Reuters. Oil and gas are Moscow’s main sources of revenue. Russia's projected increase in oil and gas revenues underscores the difficulty of Western efforts to suppress the Russian economy, despite sanctions, including oil price caps and import bans, imposed over the war in Ukraine. The document showed that Russian crude oil exports are expected to rise to 239.9 million metric tons (4.8 million barrels per day) in 2024 from 238.3 million tons in 2023. The ministry also projected the average price of Russian export oil to rise to $70 a barrel this year, up $5 from its April forecast. That would be higher than the $64.5 in 2023 and above the $60-a-barrel price ceiling imposed by the West. Natural gas selling prices for Europe and China are also projected to rise. An oil tanker is anchored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia, on Oct. 11, 2022. (AP Photo) Since the invasion of Ukraine, Russia …

Russia Raises 2024 Oil Export Projection to 3.7 Quadrillion

newsdelivers.com - 07/Sep 13:11

Russia’s Economy Ministry revised up its projection for oil and gas export revenues by $17.4 billion to $239.7 billion from its previous estimate,...

It was learned how much Russia has earned from oil and gas sales since the beginning of the year 09:58

socialbites.ca - 06/Sep 06:59

In the period from January to August, the Russian budget received 7.55 trillion rubles of oil and gas revenues, which is 56.2% more than in the same...

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Russia Raises 2024 Oil Export Projection to 3.7 Quadrillion

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