In total, Russia drew in 4.09 billion (approximately 40 billion kronor) from oil exports during the four-week period that ended on Sunday, May 11. This is the second-lowest revenue level in two years.
The volume of Russian oil exports increased by 3 percent to 3.42 million barrels per day. This is among the highest volumes since March this year. The majority of the oil is exported to China and India, with just under a tenth going to Turkey.
However, revenues are being squeezed by falling prices despite increased volumes.
A contract for the delivery of Russian so-called Ural oil from the Baltic Sea ports is circling around $48.50 per barrel, while Russian oil from Black Sea ports is at $49.20 per barrel.
And the price of Russian oil being shipped to Asia is circling around $54-60 per barrel, reports Bloomberg, citing Argus Media.
