Commodities
Russia's Oil Revenues Hit Six-Month Low Amid Declining Export Prices
Russia's oil revenue has hit its lowest level in six months as export prices decline.
According to Bloomberg, Russia's net budget revenue from oil production totaled RUB326.2 billion ($3.76 billion) in August 2026, a 22% decrease compared to the same period in 2025 and the lowest since February 2026.
The decline is attributed to the de-escalation of tensions in the Middle East, which has led to a drop in oil prices. In recent months, Russia benefited from increased demand for alternative supplies due to the Iran war, but this advantage has now faded.
Russian refineries have faced disruptions due to Ukrainian drone attacks, leading Moscow to ban most gasoline and diesel exports and increase fuel imports to boost domestic supplies.