Russia’s crude oil and oil products exports fell 350,000 barrels per day last year, though revenue from its exports rose 2% or $3.8 billion, the International Energy Agency said on Wednesday.

In a monthly report in which the IEA also said the latest round of U.S. sanctions against Russian oil could significantly disrupt its supply chains this year, it reported that Russia’s crude oil and oil products export revenues hit $192 billion in 2024.

Crude export revenues gained $4.5 billion, while products revenue fell $0.8 billion, it said.

The agency said Russia’s crude oil supply in December dropped by 40,000 bpd to 9.28 million bpd, still above the quota of 8.98 million bpd set by the OPEC+ group of leading oil producers.

Crude exports fell last month by 250,000 from November to 4.6 million bpd, more than offsetting a rise in product exports of 210,000.

The shift in flows appears in line with a 200,000 bpd seasonal rise in refinery throughputs.
Source: Reuters