{"id":447231,"date":"2026-05-13T19:50:39","date_gmt":"2026-05-13T19:50:39","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/447231\/"},"modified":"2026-05-13T19:50:39","modified_gmt":"2026-05-13T19:50:39","slug":"russias-oil-export-revenue-saw-continued-growth-in-april-iea-says","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/447231\/","title":{"rendered":"Russia\u2019s Oil Export Revenue Saw Continued Growth in April, IEA Says"},"content":{"rendered":"

Russia\u2019s oil export revenues climbed for a second consecutive month in April, as a temporary U.S. sanctions waiver and the ongoing closure of the Strait of Hormuz continued to reshape global energy flows,\u00a0the International Energy Agency said<\/a>\u00a0Wednesday.\u00a0<\/p>\n

According to the IEA\u2019s monthly market report, Russia\u2019s revenue from crude and petroleum shipments rose to $19.18 billion in April, a modest increase of $180 million from the $19 billion recorded<\/a> in March.<\/p>\n

However, in annualized terms, total revenues for April were up by a staggering $6.28 billion compared to the same month in 2025.<\/p>\n

That revenue growth occurred despite a significant drop in production<\/a> caused in part by Ukrainian drone attacks on Russian refineries and oil infrastructure. Russia\u2019s total oil output fell by 460,000 barrels per day compared to a year ago, averaging 8.8 million bpd in April.<\/p>\n

Total oil and petroleum product exports also saw a marginal monthly dip in April, falling by 90,000 bpd to an average of 7.03 million bpd.<\/p>\n

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At the same time, refined petroleum product exports plunged to 2.15 million bpd last month\u00a0due to a gasoline export embargo and reduced refinery throughput.\u00a0The IEA said it was the lowest level on record.<\/p>\n

\u201c[R]epeated attacks on [Russia\u2019s] refineries have cut domestic use and led to higher shipments, while the United States temporarily waived sanctions on Russian oil on water,\u201d the agency said in its monthly report.<\/p>\n

Ukraine has stepped up its attacks on Russian oil infrastructure over the past three months in a bid to deprive the Kremlin of energy windfalls amid the continued closure of the Strait of Hormuz.<\/p>\n

Russia has accused Ukraine of exacerbating the global energy crisis with its continued attacks on oil export hubs.\u00a0<\/p>\n

Industry sources told<\/a> Reuters this week that one of the refineries recently attacked, a Lukoil-operated facility in the Perm region, had completely halted processing on May 7. The sources said repair work may take several weeks.<\/p>\n

The refinery processed around 250,000 barrels of oil per day in 2024, according to Reuters.<\/p>\n

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The IEA said Wednesday that global oil demand is expected to contract for 2026 as a whole due to mounting supply losses from the Strait of Hormuz. It said it expects\u00a0further price volatility ahead of the peak summer demand period.<\/p>\n

Meanwhile, it remains unclear whether the U.S. Treasury Department plans to extend its waiver allowing countries to buy sanctioned Russian oil at sea. That waiver is set to expire on May 16.<\/p>\n

Treasury Secretary Scott Bessent said<\/a> in late April that the Trump administration had ruled out renewing the waiver for a second time, despite having issued a similar statement before the U.S. extended it for the first time last month.<\/p>\n

The U.S. Treasury Department declined to comment when contacted by The Moscow Times.<\/p>\n

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