Russia's oil revenue increased in October

Reuters calculations show the possibility of a 10% increase in Russian oil and gas revenues in October.

Reuters calculations show the possibility of a 10% increase in Russian oil and gas revenues in October.

According to the report of Ambassador Arjan, quoted by Reuters, according to calculations made by this news agency, Russia's income from oil and gas sales tax, which constitutes about one-fifth of the country's government's total income, will reach one trillion rubles (equivalent to 11 billion 970 thousand dollars) in October with a 10% increase compared to the same period last year.

After the United States and Saudi Arabia, Russia is the third largest producer and exporter of oil in the world and is heavily dependent on the sale of oil and gas.

Tax revenue from Russian oil and gas sales is expected to more than double this month compared to September, mostly due to quarterly payments of taxes on excess profits from oil production. Excluding this tax, Russia's income in October is expected to be around 164 billion rubles or 36% more than in September.

Reuters' calculations are based on data on oil and gas production, refinery production and the amount of supply in domestic and global markets.

Global oil prices have increased sharply due to supply disruptions caused by Middle East conflicts. However, the possibility of a 5% decrease in production in the third quarter of 2026 compared to the same period of 2025, partially neutralizes the positive effect of the increase in oil prices.

In the 2026 budget of Russia, oil and gas income is predicted to be 8 trillion and 918 billion rubles out of the total of 40 trillion and 283 billion rubles of the country's total income.

According to Reuters estimates, Russia's total oil and gas revenue is expected to reach 6.45 trillion rubles from January to October 2026, which is a 14 percent decrease compared to the same period last year.