Russian Oil Export Revenues Up 35.5% Year-on-Year in January-August - Customs
Russian budget revenues from oil exports increased by 35.5 percent in January-August to $82.4 billion, data from the Russian Federal Customs Service showed on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 04th October, 2018) Russian budget revenues from oil exports increased by 35.5 percent in January-August to $82.4 billion, data from the Russian Federal Customs Service showed on Thursday.
The volume of oil exports fell 1 percent year-on-year to 169.18 million tonnes in the first eight months of 2018, the customs said.
In August, Russia's oil exports rose by 3.2 percent from July, totaling 21.7 million tonnes, while oil export revenues were up 1.5 percent to $11 billion.
Meanwhile, exports of petroleum products saw a 0.9-percent year-on-year decrease to 89.
64 million tonnes in January-August, bringing in $51.6 billion, which is 28.6 percent more than during the same period last year.
In August, petroleum products exports totaled 12.5 million tonnes, up 6 percent from July, while revenues from these exports reached $6.48 billion, up 5.6 percent from the previous month.
Russia's oil output has been affected by the 2016 OPEC-non-OPEC oil production cut deal, aimed at stabilizing global oil prices. The deal has been repeatedly prolonged and is currently effective until the end of 2018.