Russia's oil product exports hit record low in July 2026
Russian oil product exports decreased by 430 thousand barrels per day to June and by 1.25 million barrels per day to July 2025 – to 1.36 million barrels per day. Russia's total revenue from oil exports in the previous month amounted to $13.76 billion.
Consensus
- Russia's oil and petroleum product exports declined significantly in July 2026.
- The decline in exports coincided with damage to oil refining plants and port infrastructure.
- Domestic processing of crude oil has increased, reducing export volumes.
- Russia's total income from fossil fuel exports decreased in July 2026 compared to June and July 2025.
- China remains Russia's largest buyer of fossil fuels.
- India increased its oil purchases in July 2026.
Points of divergence
- Sea exports of petroleum products fell to 4.7 million tons in July 2026—the lowest level ever recorded. — tg_govorit_nemoskva
- Sea exports of petroleum products dropped by 36% month-on-month and 45% in revenue. — tg_govorit_nemoskva
- Total fossil fuel export income in July 2026 was 683 million EUR per day—12% lower than in June. — tg_govorit_nemoskva
- Pipeline gas exports increased by 27% in July 2026. — tg_govorit_nemoskva
- Total oil and petroleum product exports in July 2006 were 6.97 million barrels per day (b/d), down 630,000 b/d from June and 420,000 b/d below July 2025. — interfax
- Crude oil exports in July 2026 were 5.61 million b/d—830,000 b/d higher than in July 2025. — interfax
- Petroleum product exports fell to 1.36 million b/d in July 2026—down 430,000 b/d from June. — interfax
- Total oil export revenue in July 2026 was $13.76 billion—$2 billion less than in June and $0.7 billion less than in July 2025. — interfax
- The main reason for reduced revenue was continued decline in global oil prices. — interfax
Coverage (3 sources)
- Marine export of oil products from Russia fell to a record low — Говорит НеМосква
- MEP reported a 0.6 million b/d decrease in Russian oil exports in July to 7 million b/d — Интерфакс
- Prozerno allows reduction of grain export from Russia in August to almost 2.5 million tons — Интерфакс