Russia’s Oil-Tax Revenue Slides as Prices and Output Decline

Russia reaped less money from oil taxes last month as production fell and global crude prices declined.

Oil-tax proceeds dropped by more than 15% from a year earlier to 956.8 billion rubles ($11.4 billion), according to Bloomberg calculations based on Finance Ministry data published Thursday.

Global crude prices have fallen amid slower demand growth in China, ample supplies from North and South America and the fallout from US President Donald Trump’s increasingly aggressive tariff policy.

Expectations for weaker global demand are “putting pressure on commodity prices,” Russia’s central bank said earlier this week. In February, the bank estimated ...