The Ministry of Economy predicted a price of $70.1 per barrel of Urals in 2023
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In 2022, world prices for the Urals oil brand will drop from $80 per barrel in the second quarter to $71.9 in the fourth. In 2023, the average cost will drop to $70.1, RIA Novosti reports, citing the forecast of the Ministry of Economy for 2023 and for the planning period of 2024 and 2025.
According to baseline scenario forecast:
in 2024 the price will be $67.5;
in 2025 – $65.
According to conservative option forecast:
in 2022, the average price of Urals will be $80;
in 2023 – $67.5;
in 2024 – up to $62.9;
in 2025 – $60.3.
The Urals grade is a mixture of light West Siberian oil and heavy sour oil from the Urals and Volga fields. Urals oil is trading at a discount against Brent oil, as it contains more sulfur and heavy hydrocarbons.
Average annual (average) price of Urals oil from January to December 2021 was $69 per barrel. In 2020, it was $41.73 per barrel.
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