Russia has increased oil exports to record levels since July.

Crude oil supplies from Russia have increased to record levels over the past three months.

At the same time, oil production in the aggressor country exceeded the OPEC+ target level for the first time since February of this year. Russian oil supplies have increased by about 60 thousand barrels per day over the past 4 weeks. At the same time, oil refining volumes in Russia fell to their lowest level since June due to technical work at plants across the country. It is also indicated that even with a reduction in shipments from the Baltic and Asian ports, there has been an increase in crude oil supplies in the last week.

Moscow said Russian oil production fell below OPEC+ targets last month. At the same time, the gross value of Russian oil exports decreased from $1.68 billion to $1.54 billion by September 29. The decline in weekly supplies was partially offset by rising average Russian oil prices, driven by a general rise in global prices amid fears that a war between Iran and Israel will disrupt supplies in the Middle East.

Russia's oil revenues showed a slight increase in September, driven by the country's oil producers. The Russian government compensated for low energy prices by halving monthly subsidies to crude oil producers.

On global markets, oil prices fell by more than $1 after reaching a one-month high amid expectations of a worsening situation in the Middle East. Brent futures fell $1.17 to $79.76 a barrel. US West Texas Intermediate crude futures also fell to $75.95 a barrel.