Russia’s Oil Revenues Slump by 21% as Prices Drop ...Middle East

Russia’s revenues from oil plunged by 21% in November compared to a year earlier as the international benchmark prices and the price of Russia’s flagship crude, Urals, fell last month amid concerns about global oil demand. In November, for a second month in a row, Russia’s oil revenues slumped from the comparable month in 2023, according to Bloomberg’s estimates based on official government data released on Wednesday. Russia has based its tax levies and calculations for November on an average price of the Urals grade of…

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