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For benchmark oil prices, start with the U.S. Energy Information Administration (EIA); for monthly international context and Russian export estimates, consult the International Energy Agency (IEA), then compare like-for-like figures. Keep the observation period, unit, geographic scope and product coverage with every number: Brent is not the realized price of Russian crude, and crude exports are not the same as crude-and-products exports.
Which sources should you use?
Each source answers a different question. EIA is a practical starting point for public price series and structured petroleum data. The IEA’s monthly Oil Market Report (OMR) adds international market analysis and estimates of Russian flows, including destination detail. EIA’s Russia analysis provides a complementary estimate using a different set of inputs.
| Source | Best for | Coverage and access | Important qualification |
|---|---|---|---|
| EIA Short-Term Energy Outlook (STEO) | Monthly global oil-market context, spot-price discussion, forecasts, tables and figures. | Public report with an interactive data browser. | Use the release date and distinguish reported market observations from forecasts. The October 6, 2026 STEO reported Brent spot averaging $114 per barrel in September 2026; that is a dated market observation, not a forecast or a durable price level. |
| EIA International Data | Finding international petroleum series, including production, trade and prices. | Public portal with annual crude and lease-condensate export data and OECD monthly trade views. | Check each series’ geography and frequency; not every measure is monthly or directly comparable. |
| EIA petroleum API | Automated access to machine-readable petroleum imports, exports, movements, stocks and prices. | Public API and documentation. | Confirm the exact series metadata, unit, frequency, geography and revision status before using a value. |
| IEA Oil Market Report | Monthly international supply, demand, inventories, prices, refining and trade, including Russian-market estimates. | Subscription-based report access. | Figures may use tanker-tracking evidence and estimates. Check the report month and whether the number covers crude, products or both. |
| EIA Russia analysis | A second perspective on Russian crude and condensate export volumes. | Public analysis published August 7, 2025. | EIA used Global Trade Tracker, Argus and Vortexa; its first-half 2025 data are marked preliminary. |
The IEA’s OMR guide says its spot crude and product price assessments are based on daily Argus prices and converted to U.S. dollars per barrel where appropriate. See the OMR user guide for that methodology.
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How to track oil prices
- Choose the question. For broad market reference prices, follow Brent and WTI series. For Russian export economics, use a Russian grade price or a weighted export-price estimate separately; a benchmark is not automatically the price exporters realize.
- Find the relevant series. Use the STEO for monthly market context and price tables, or search the EIA International Data portal for a specific historical series. For automated analysis, use the EIA API and verify its series metadata.
- Label the observation. Save the series name, value, currency, unit, observation date or covered month, source release date and whether the value is observed or forecast. A monthly report’s publication date is not necessarily the month its data describe.
- Keep price comparisons explicit. Brent, WTI and Russian grades differ in crude quality, delivery basis and market conditions. If calculating a spread, name both series and state the formula, period, units and assessment basis—for example, Russian grade price minus Brent for a specified month.
- Retain the report vintage. If a later release changes a historical value, record the updated figure and its source and date rather than silently overwriting the earlier observation.
Where to find Russian crude exports by month and destination
For monthly Russian export coverage and destination context, use the IEA OMR, then consult EIA’s Russia analysis as a separate check. The IEA chart Russian oil exports by destination identifies IEA, Argus and Kpler as sources. It explains that assigning shipments to a country of origin when they transit third countries requires granular analysis and estimates; the resulting figures can differ from customs information and may be updated.
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Read the scope before comparing a headline or chart. The IEA’s June 2025 report said Russian crude-and-product exports fell by 230,000 barrels per day month over month to 7.3 million barrels per day in May 2025. That figure includes products and is not a crude-only total. By contrast, EIA estimated Russian crude oil and condensate exports averaged 5.0 million barrels per day from 2020 through 2024, including 4.8 million barrels per day in 2024. EIA’s estimate for the first half of 2025 was 4.3 million barrels per day and was marked preliminary. These are EIA estimates with a different scope from the IEA’s combined crude-and-products figure. See the June 2025 OMR and EIA Russia analysis.
Destination estimates can answer questions that aggregate export totals cannot, but transit and origin attribution matter. In its February 2026 OMR, the IEA reported tanker-tracking estimates of Indian imports of Russian crude at 1.1 million barrels per day in January 2026 and an average of 1.7 million barrels per day during 2025. Those figures refer to Indian imports of Russian crude, not Russia’s total exports or crude-and-products exports. Consult the February 2026 OMR for the report context.
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Why Russian export figures differ between sources
There is not necessarily one definitive monthly series that every source reproduces. Differences may reflect the data inputs, shipment-tracking methods, origin attribution, publication timing, revisions, or whether a figure includes condensate and refined products as well as crude.
- Different product scope: “Crude and condensate,” “crude and products,” and total petroleum exports are distinct measures.
- Different evidence: The IEA destination chart draws on IEA, Argus and Kpler; EIA’s cited Russia analysis used Global Trade Tracker, Argus and Vortexa.
- Transit and origin assignment: A shipment routed through another country can complicate attribution to its origin. The IEA says its estimates may differ from customs information and can change as data are updated.
- Preliminary values and revisions: EIA marks its first-half 2025 Russia export estimate as preliminary. A later report may revise a period or use a different cutoff.
- Time period and units: A monthly average should not be compared as if it were an annual average; check that both values use the same unit and cover the same month or span.
Explain the difference rather than averaging figures with unlike scopes or methods. If values disagree, preserve both source labels and the period each source covers.
Quick Recap
A compact checklist for a dependable tracking record
- Source and exact series or report name
- Observation date or covered month, plus publication date
- Unit and currency
- Geographic scope and destination, where relevant
- Crude, condensate, products or combined-oil coverage
- Observed, estimated, preliminary or forecast status
- Report vintage or revision date
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