Russia's Oil Export Revenue Up 38.6% Year-on-Year In January-October - Customs Service

Russia's Oil Export Revenue Up 38.6% Year-on-Year in January-October - Customs Service

Russia's revenues from oil exports in January-October increased by 38.6 percent compared to the corresponding period last year and totaled $106.59 billion, according to the data released by the Russian Federal Customs Service.

MOSCOW (Pakistan Point News / Sputnik - 07th December, 2018) Russia's revenues from oil exports in January-October increased by 38.6 percent compared to the corresponding period last year and totaled $106.59 billion, according to the data released by the Russian Federal Customs Service.

According to the data, Russia's oil export volume decreased by 0.1 percent over the given period.

In October, Russia increased oil exports by 2 percent, or 22.2 million tonnes, compared to September, while oil export revenue grew by 5.6 percent to $12.3 billion.

In January-October, oil products export dropped by 0.5 percent to 126.5 million tonnes, while the income from oil products export rose by 33.6 percent to $65.1 billion.

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.