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Expectations point to a 10% increase in Russian oil and gas revenues in October, reaching approximately 1 trillion rubles (about $11.97 billion), driven by rising global oil prices and increased tax payments from producing companies. This rise comes at a time when oil and gas revenues account for roughly one-fifth of the Russian government's income, capitalizing on disruptions in oil supplies caused by the war in the Middle East. However, estimates indicate that Russian oil production has decreased by about 5% in the third quarter, and oil product exports have been affected by attacks on refineries, leading total exports to drop to the lowest level since the COVID-19 pandemic, thereby limiting financial gains despite rising prices. The full-year revenue from oil and gas is projected to be around 8.918 trillion rubles (approximately $106.71 billion), but expected revenues during the first ten months of 2026 are about 14% lower than last year.
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