Russia's income from oil exports in August 2022 decreased to its lowest value since March $ 17.7 billion, Bloomberg reported, citing the results of the report of the International Energy Agency (IEA).

Russia's oil export revenues fell to $17.7 billion in August prices, the lowest since at least March. The drop in oil prices more than offset the increase in overseas shipments, the piece claims.

This figure was $1.2 billion less than a month earlier. The decrease occurred despite the daily increase of exports of oil and petroleum products from Russia by 220 thousand barrels to 7.6 million barrels per day.

At the same time, Russian oil production and exports were stable, according to the IEA report.

August levels are only 400,000-450,000 bpd lower than in late February and early March. Despite the reduction of Russian oil and oil products supplies to Europe, USA, Japan and Korea by 2 million bpd since the beginning of the year, redirection of flows to India, China, Turkey and other countries allowed to reduce losses in production, says the report.