Russian Oil Exports Almost Intact But Prices Take Hit, IEA Says

Russian oil exports edged lower in February following the imposition of the latest round of US sanctions, but widening price discounts curbed revenues, according to the International Energy Agency.

Last month, the nation’s producers exported 7.28 million barrels a day of crude and petroleum products, a drop of just 100,000 barrels a day from January, the Paris-based IEA said in its monthly oil report.

As President Joe Biden was leaving the White House, his administration imposed the most aggressive restrictions yet on Russia’s oil industry in early January. The US blacklisted multiple tankers, traders, Russian insurance companies and two large ...