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Saturday, July 08, 2023 8:35:21 PM
Roughly 7% more oil exports have brought Russia 25% less revenue. That's a 30% decline in revenue per barrel.
The EU/US Price Cap Sanctions on Russian oil exports and lower prices appear to be having quite an impact.
Russia cannot continue exporting 8.4 million mbpd level, higher than their production level, so Aug 1 they'll be reducing their oil exports 0.5 mbpd to less than 7.9 mbpd.
https://www.reuters.com/markets/commodities/russia-cut-oil-exports-by-500000-bpd-august-novak-says-2023-07-03/
Without western technical support and equipment imports, Russian oil production will continue to decline
Russia has ended publication of their oil and gas exports April 1, 2023 for at least the next year, so production figures after the newest date shown on this chart will be a mystery and less embarrassing for Russia. - https://www.semafor.com/article/04/14/2023/russian-oil-revenues-drop-charts
The EU/US Price Cap Sanctions on Russian oil exports and lower prices appear to be having quite an impact.
Russia cannot continue exporting 8.4 million mbpd level, higher than their production level, so Aug 1 they'll be reducing their oil exports 0.5 mbpd to less than 7.9 mbpd.
https://www.reuters.com/markets/commodities/russia-cut-oil-exports-by-500000-bpd-august-novak-says-2023-07-03/
Without western technical support and equipment imports, Russian oil production will continue to decline
Russia has ended publication of their oil and gas exports April 1, 2023 for at least the next year, so production figures after the newest date shown on this chart will be a mystery and less embarrassing for Russia. - https://www.semafor.com/article/04/14/2023/russian-oil-revenues-drop-charts
We've run out of other people's Social Security taxes needed to subsidize our low income tax rates.
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