Oil exports from Russia has dropped sharply to a three -month minimum - Bloomberg (infographics)

Against the background of reduction of maritime supplies, the Kremlin's earnings are reduced. Thus, weekly revenues from export duties to oil have decreased to the lowest level in two months. In November, Russian oil exports have decreased to the lowest level since August 2023. The reduction of deliveries occurs on the eve of the OPEC+ministerial meeting, which will take place in the coming weekend.

It is expected that the negotiations will be discussed compliance with the conditions of reduction of "black gold". Bloomberg writes about it. It is noted that Moscow reduced oil exports after a sharp increase in deliveries in October. Thus, by November 19, about 2. 7 million barrels of oil were shipped from Russian ports a day - this is 580 thousand barrels a day less than the review for the period up to 12 November. This is the largest decline in the last 4 months.

Journalists write that in early August, the Kremlin said that the Russian Federation will export no more than 300,000 barrels of oil a day. "This policy was confirmed in early November. OPEC oil producers, which are headed by Russia and Saudi Arabia, will meet in Vienna on November 26 to discuss how to respond to the deterioration of the oil market, as well as set production goals for the first half of 2024 year, " - the publication reads.

At the same time, the average four -week flow decreased to 3. 23 million barrels per day, which is about 200 thousand barrels per day below the figure for the period up to 12 November. "The Kremlin's weekly income from export duties to oil fell to the lowest level in two months, and the fall in volume was partially offset by the increase in duties in November," the material reads.

OPEC+, which includes the organizations of organization of oil exporting countries (OPEC) and leading allies, including Russia, reduces production since 2022, which, according to the Alliance, is a warning measure to maintain market stability. The Saudi Arabia, considered by OPEC, for the first time decided to voluntarily reduce production in July this year. This was done as part of a broader agreement on the restriction of deliveries agreed by some OPEC+ members in April.

In September, the Kingdom stated that it would continue the additional voluntary reduction by the end of the year and review this decision on a monthly basis. Soon the example of Saudi Arabia also imitated the Russian Federation, which stated that she did not refuse to voluntarily reduce the supply of crude oil and petroleum products by 300 thousand barrels a day. Moscow is expected to follow these restrictions by the end of 2023, meanwhile, June OPEC+ has already limited deliveries by 2024.