Russia’s Oil Export Revenues Jumped In August As Prices Rose

Russia’s oil export revenues jumped to $17.1 billion in August, up by $1.8 billion compared to July, as higher oil prices more than offset lower export volumes, the International Energy Agency (IEA) said on Wednesday in its Oil Market Report for September.   Oil prices started climbing into the $80-$85 a barrel range for Brent Crude last month, before jumping into the low $90s in early September after Saudi Arabia and Russia extended their oil supply cuts until the end of 2023. Total Russian crude and fuel exports fell by an estimated…