Russian oil revenue falls 17 percent amid lower output
Russia reports a 17 percent drop in oil and gas tax revenue during the first nine months of the year. Lower production volumes and a stronger rouble offset crude prices that reached decade highs amid ongoing conflict.
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Russia's energy revenue fell 17% to 5.47 trillion roubles ($64.43 billion) in the first nine months of the year. This drop occurred despite crude prices hitting a decade high due to ongoing disruptions. Energy proceeds account for 20% of the federal budget, which faces a wider deficit.
