Russia’s Oil Exports Remained Steady As Revenues Rose In July

Russia’s crude oil and refined products exports remained steady at some 7.3 million barrels per day (bpd) in July, while higher oil prices and narrower price differentials for Russian crude pushed Moscow’s revenues higher compared to June, according to estimates by the International Energy Agency (IEA). Russian crude oil loadings were estimated to have dropped by 200,000 bpd last month, but the lower crude exports were offset by higher exports of refined petroleum products, the agency said in its Oil Market Report (OMR) on Friday. Russian…