The average price of Urals oil for 10 months increased by 18%
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The average price of Russian export oil Urals from January to October was $79.57 per barrel, informed Ministry of Finance. The price of oil increased by 17.86% compared to the same period in 2021 ($67.51 per barrel).
In October, the average price of Urals oil was $70.62 per barrel. This is lower than in October last year ($81.49 per barrel), according to a press release from the ministry.
Central Bank of Russia lowered Urals average oil price forecast for 2022 up to $78. Due to the decrease in oil and gas revenues to the Russian budget against the backdrop of sanctions, the reduction in federal budget revenues in 2023 is projected at the level of 1.5 trillion rubles.
Details – in the material “Oil revenues are prescribed to be more modest”.
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