An average price of Russian “Urals” oil increased by 27 percent and amounted to 53.03 dollars per barrel during 2017. This is reported by the Ministry of Finance.
In 2016 an average price of “Urals” oil made up $ 41.9 per barrel. In December of last year the Russian raw material cost an average of $ 63.61 per barrel, which was 1.2 times higher than a year earlier - $ 52.08 per barrel.
The cost of Russian oil brands is tied to the price of the “Brent” North Sea oil blend and is traded at a discount to the latter. The quotes of Brent oil has beat its maximum on January 4 for the first time since May 2015, reaching $ 68 per barrel. As of 14:20 Moscow time, January 9, the cost of March futures for Brent has grown by 0.12 percent - to 67.86 dollars per barrel, as compared to the previous closure.
Author: Anna Dorozhkina