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Investing.com -- Russia’s income from crude oil and oil product sales fell 2.6% in February, down to $15.88 billion, according to the International Energy Agency (IEA). The decrease is attributed to lower crude oil prices and larger discounts for Russian oil grades.
The IEA reported on Thursday that Russia’s oil exports in February also saw a decrease, dropping by 100,000 barrels per day (bpd) from January. This drop follows a recent round of U.S. sanctions. When compared to the same month the previous year, the exports were down nearly 500,000 bpd.
Despite the overall drop in exports, crude exports saw a slight increase in February. Rising by 90,000 bpd from the low levels seen in December and January. However, product exports experienced a decline, falling by 190,000 bpd and were down by 420,000 bpd from the previous year.
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