Home / Oil / The Russian oil Urals has fallen in price by 36 percent

The Russian oil Urals has fallen in price by 36 percent

Российская нефть Urals подешевела на 36 процентов

The average price of Urals oil in January-may of 2016, totaled 36,01 per barrel. On Wednesday, June 1, said the Ministry of Finance.

In January-may last year, the average price of this grade of oil equal of 56.05 per barrel. Thus, the price fell by 36 percent.

The average price of Urals in may 2016 amounted to 44, 66 dollars per barrel, which is 1.4 times lower than in may 2015 (63,69 dollars per barrel).

Currently, more than low-grade Urals sold at a discount to the international benchmark is North sea Brent blend.

A barrel of Brent crude on London’s ICE, according to 14:15 GMT, was trading at 49.19 USD. He lost 1.4 percent from the closing level of the session on Tuesday, may 31.

23 may it was reported that companies from China are considering the possibility of participating in future auctions by futures on Urals crude oil, the sale of which will be used rubles.

Urals — export oil extracted in Russia. Fuel is obtained from a mixture of hydrocarbons from oil fields of the Volga region, the Urals, Khanty-Mansi and Yamalo-Nenets Autonomous districts, is formed in the pipeline system “Transneft”. Revenues from export sales of crude oil in Russia’s budget about 40 percent. In the Federal budget for 2016 has an average annual cost of Urals oil at $ 50 per barrel.

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