Russia doubles revenue from oil exports to $19 bln, exports over 7 mln bpd in March - IEA

MOSCOW. April 14 (Interfax) - Russia's revenue from oil and petroleum product exports underwent a sharp increase of $9.7 billion month-on-month and $4.76 billion year-on-year in March, reaching $19.04 billion, the International Energy Agency (IEA) said in a monthly report.

Oil and petroleum product exports averaged at 7.13 million barrels per day (bpd), 320,000 bpd lower than the previous month and 300,000 bpd lower than in March 2025.

Analysts from the IEA calculate that Russian oil increased in price by $32.7 to $78.38 per barrel last month due to the Middle East conflict. Exports were estimated at 4.62 million bpd in March, 270,000 bpd more than February but 170,000 bpd less than in March 2025, with an overall revenue of $11.45 billion, up $5.41 billion from February and $2.25 billion from a year previously.

India accounted for most of the oil exports, purchasing 2 million bpd, up 930,000 bpd from February. The IEA said that Russian oil was processed at 12 Indian oil refineries in March, versus seven in February. China was the second biggest importer of Russian oil in March with 1.8 million bpd.

Russia exported 2.51 million bpd of petroleum products, up 50,000 bpd from February but down 130,000 from March 2025. It earned $7.59 billion in revenue from these exports, $3.88 billion higher than in February and $2.51 billion higher than in March 2025.