The outlook for Russia’s earnings from oil exports is improving as the price of a barrel of crude in ruble terms rose to the highest in more than five months. The currency’s 2.8 percent advance this month has lagged a gain of 18 percent in Brent crude, which is used to price Russia’s main export blend. The exchange rate’s relative weakness means the government is earning more from sales of the dollar-denominated commodity. The ruble was little changed at 65.18 per dollar by 12:33 p.m. in Moscow as Brent rose 2.4 percent to $46.84 a barrel, or 3,052 rubles. The oil-price recovery is bringing relief to the government as it seeks funds to bridge what analysts project will be the biggest budget deficit as a percentage of economic output since 2010. This year’s fiscal plan was based on the state receiving 3,165 rubles for each barrel it sells. The […]