Russia still making money from oil exports

Despite efforts by the West to isolate Russia over its war in Ukraine, the Kremlin is still raking in money from oil sales, even if its exports are showing signs of ebbing


RUSSIAN CRUDE OIL FLOWS
Week ending July 8 compared with week ending July 1

bpd = barrels per day
    
Baltic ports
1,564,000 bpd 
-6%

Arctic
171,000 bpd 
-46%

Black Sea
542,000 bpd 
-28%

RUSSIA
                   
Pacific ports
838,000 bpd 
-11%
                                     
Total seaborne crude flows: 3,115,000 bpd 
-15%
       
            
Russian revenue from crude export duty ($ million)
Seaborne crude flows (million bpd) 

Feb 24: Russia invades Ukraine

Week to July 8: Despite drop in crude shipments, revenue falls just 2% due to higher per-barrel duty rates

200							4
150 							3	
100 							2
50							1
0							0
	Jan 7 Feb 4 Mar 4 Apr 1 Apr 29 May 27 Jun 24 


Source: Bloomberg News 
© GRAPHIC NEWS