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The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
Russian oil and gas mineral extraction tax (MET) in March was lower than February, but was boosted by a 220 billion roubles quarterly profit-based tax on oil companies giving a total monthly income of $8.7 billion (688 billion roubles), 43% down compared to March 2022. [132] Russian oil exports reach highest since February 2022. [133]
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