Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Oil Exports Fall, Duties Advance

The country's crude oil exports fell 6.9 percent in June as higher export duties encouraged oil companies to refine more crude domestically.

Russia produced 9.85 million barrels per day in June, according to preliminary data from the Industry and Energy Ministry's information center. Output rose 0.4 percent from May.

Urals blend exported from Russia, rose 10 cents to $68.33 at 12:58 p.m. in northwestern Europe Monday.

Russia revises its oil export duty every two months based on the average international price. The duty rose to $200.60 per ton in June, and will advance to $223.90 from Aug. 1.

Pipeline monopoly Transneft exported 4.25 million barrels per day, 6.9 percent less than in May.

Full domestic refining figures will be released later this month.

Rosneft, Russia's biggest oil producer, pumped 2.18 million barrels per day, 37.3 percent more than a year earlier.