Russia’s Oil Exports Plunge To The Lowest Level Since March 2021

Total oil exports out of Russia slumped by 600,000 barrels per day (bpd) in June, to the lowest level in more than two years, according to estimates by the International Energy Agency (IEA) in its Oil Market Report published on Thursday. Russia’s oil exports declined by 600,000 bpd to 7.3 million bpd in June, which was the lowest level of oil exports from the country since March 2021, per IEA’s estimates. Revenues have also plunged, both compared to May and to the levels at this time last year. Russia’s estimated export revenues…