Russia August Oil Revenue Drops 22% YoY as Urals Slips to $59

Russia's net oil revenue fell to $3.76B in August, the lowest since February, as Urals averaged just over $59 per barrel, down sharply from the ~$95 spring peak. The decline reflects lower global prices and possibly reduced demand for Russian barrels, though the fiscal impact is cushioned by a weaker ruble. This signals continued strain on Russia's budget and may influence its willingness to sustain output levels.