Russia Fossil Fuel Export Revenues Surge 14% in October 2026

Key Facts

Russia's fossil fuel export revenues increased 14% month-on-month to EUR 754 million per day in October 2026. The Centre for Research on Energy and Clean Air reported that the surge was driven by a 19% rise in crude oil revenues, as China and India recorded their highest monthly fossil fuel purchases since January 2022.

Surging demand from Asian refiners seeking to minimize freight costs bolstered trade flows despite international sanctions. Urals crude prices averaged $102 per barrel in October 2026, while the price cap remained frozen at $44.1 per barrel under the EU's 21st sanctions package.

Russia is scheduled to release key economic data on November 13, 2026, including the annual GDP growth rate and monthly inflation figures, which may provide further insight into the macroeconomic environment following the rise in energy revenues.