Russia's July Oil Tax Proceeds to Decline 1% Amid Lower Prices

Russia's mineral extraction tax proceeds on crude oil for July production are estimated at 580 billion roubles ($7.17 billion), a 1% decline from June's 585 billion roubles, Reuters calculations show. The MET per metric ton is expected to drop 1.5% due to lower oil prices, but a 5.5% easing of the rouble against the US dollar in July kept total proceeds largely unchanged from the previous month. This July revenue will fall short of the government's monthly target. While this specific report details Russia's internal revenue dynamics, sustained shifts in global oil prices or the rouble's value could indirectly influence broader market sentiment for commodities and currencies.

بحوالہ / Source: www.brecorder.com