BAKU, Azerbaijan, May 18. Russia's revenues from oil exports in April 2023 increased by $1.7 billion to $15 billion, a source at the International Energy Agency (IEA) told Trend.
Higher volumes and a lower discount on Urals led to an increase of $1.4 billion to $9.6 billion in crude oil sales, the IEA explained.
"As a result, total export revenues were 27 percent lower than a year ago compared with a 40 percent year-on-year decline in March," the source said.
According to the report, the country's liquids exports grew by 50,000 b/d in the reporting period of 2023 to 8.3 mb/d - the highest since the war in Ukraine. As such, crude oil shipments increased by 250,000 b/d, while product exports declined by roughly 200,000 b/d.
"At 5.2 mb/d, crude oil exports in April climbed to the highest since May 2022. China and India, the two biggest consumers in Asia, lifted 2.1 mb/d and 2 mb/d, respectively, together accounting for nearly 80 percent of the total. India has boosted its purchases in the past two months by taking more ESPO and other grades. EU received 400,000 b/d, mostly via pipeline to Hungary and Slovakia and seaborne shipments into Bulgaria. Myanmar imported roughly 70,000 b/d the last several months for the first time since 2021 for onward shipment to China via pipeline," the report said.
Meanwhile, the main importers of Russia's oil products in the reporting period were Türkiye, China and India, receiving about 430,000 b/d, 220,000 b/d and 180,000 b/d, respectively.
