The International Energy Agency said that Russian exports of oil and petroleum products in April 2023 were the highest since February 2022, when Moscow launched the military operation in Ukraine.
In its monthly report, the agency indicated that Russian exports of oil and petroleum products increased last month by 50,000 barrels per day, compared to the previous month, to 8.3 million barrels per day.
The agency indicated that oil supplies increased by 250,000 barrels per day last month, while exports of petroleum products decreased by about 200,000 barrels per day.
She pointed out that oil exports last April amounted to 5.2 million barrels per day, the highest since May 2022, as the major buyers of Russian crude in Asia, China and India, increased their purchases to 2.1 and 2 million barrels per day, respectively.
Russian black gold supplies to the European Union amounted to 400 thousand barrels per day, and were directed mainly to Hungary (Hungary) and Slovakia through a pipeline and to Bulgaria by sea.
With regard to exports of Russian oil products, the agency said that the main buyers of these products are Turkey, China and India, as these countries were delivered 430, 220 and 180 thousand barrels per day, respectively.
It also pointed out that the estimated revenues from Russian oil exports increased last April by $1.7 billion compared to last March, to reach $15 billion.
However, the revenues from these exports last month decreased by 27% when compared to the same month of last year 2022.
“OPEC +” cut production last April by 400 thousand barrels per day
The International Energy Agency also announced that the countries of the “OPEC +” group, which have obligations under the agreement to reduce oil production, had reduced it by 400,000 barrels per day in April.
And the agency reported that the production of 19 participants in the “OPEC +” group decreased last April by 400 thousand barrels per day, to reach 37.6 million barrels per day.
This led to the actual reserve capacity of the coalition, excluding volumes closed due to sanctions against Iran and Russia, to reach 4.1 million barrels per day, and Saudi Arabia and the UAE maintain about 60% of this volume.
This article was originally published by RT.
