off-the-wire

Price caps hit Russia's export revenue by about $8 billion in Jan - IEA official

Kitco Media
By Reuters
Published:
Updated:
Reuters
BENGALURU, India, Feb 5 (Reuters) - Price caps on Russian oil likely hit Moscow's revenues from oil and gas exports by nearly 30% in January, or about $8 billion, from a year ago period, International Energy Agency (IEA) chief Fatih Birol said on Sunday.


He said the growth in global oil demand this year will come from China and that may need the OPEC+ countries to look at their (output) policies.


"And now this year Chinese economy is rebounding. ..this is putting upward pressure on the demand," he said referring to 'exploding' demand for jet fuel in China. (Reporting by Nidhi Verma,Mohi Narayan and Florence Tan; Writing by Manoj Kumar; Editing by Toby Chopra)

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