By mid-May of this year, the currency price of a barrel of Russian Ural oil dropped to $55.97. In April, this indicator was at $58.63, the highest level since the beginning of January. reported On the Ministry of Finance (MoF) website.
“For the monitoring period from April 15 to May 14, 2023, the average price of Ural oil was $55.97 per barrel, or $408.6 per ton. The price of North Sea Dated oil for this period is $79.87.
This dynamic is due to several factors. Among the key ones is the linking of currency prices for the Urals to the Brent and WTI benchmarks. The barrel cost of the latter began to rise sharply in the first half of April, after which it went into a gradual decline. At the same time, the department concluded that the size of the Urals discount continued to decline in the first two weeks of this month and is currently at around 30%.
On May 14, the Asia Times newspaper cites data from a report by the Finnish Energy and Clean Air Research Center (CREA). knowledgeableChina, India, Singapore, Turkey and the UAE are helping Russia circumvent sanctions by shipping Russian oil to Europe. The above countries mix Russian oil with other grades and export it all over the world.