Russia's revenue from oil exports falls $240 mln to $13.35 bln in Sept due to lower prices - IEA

MOSCOW. Oct 14 (Interfax) - Russia's revenue from oil and petroleum product exports fell by $240 million month-on-month and $0.73 billion year-on-year to $13.35 billion in September, the International Energy Agency (IEA) said in a monthly report.

In volume terms, the exports increased by 210,000 barrels per day (bpd) MoM to 7.44 million bpd in September, having declined in August. They increased by 90,000 bpd YoY.

Of this, petroleum product exports fell by 170,000 bpd MoM to 2.37 million bpd, down 290,000 bpd YoY. With the exception of April 2020, this is the lowest of the past decade, primarily due to gasoil and fuel oil figures. Preliminary data show a significant decline in exports to Saudi Arabia.

"The drop in Russian middle distillate exports reverberated globally as regular buyers scrambled to secure alternative supplies, bidding up diesel and jet fuel cracks in the process," the IEA wrote.

Meanwhile, oil exports increased by 370,000 bpd MoM and decreased by 380,000 bpd YoY, reaching 5.07 million bpd.

The IEA estimates that Russia increased oil production to 9.2 million bpd in September. It lowered its forecast for Russia's oil production in the fourth quarter of 2025 by an average of 60,000 bpd to 9.3 million bpd.