Russian Crude Blend Urals Averaged $29.17 Per Barrel In March, Down 46% From Feb -Ministry

Sumaira FH Published April 02, 2020 | 12:10 AM

Russian Crude Blend Urals Averaged $29.17 Per Barrel in March, Down 46% From Feb -Ministry

MOSCOW (UrduPoint News / Sputnik - 02nd April, 2020) The average price of Urals crude, Russia's top export earner, fell 46 percent month-on-month in March to $29.17 per barrel, according to the Russian Finance Ministry.

Urals averaged $54.24 per barrel in February 2020 and $65.98 per barrel in March 2019.

In January-March 2020, average price for Urals was $48.18 per barrel, 23.7 percent less than in January-March 2019.

On Monday, the price of Urals fell to $13 per barrel (CIF Rotterdam), a fresh low of more than two decades, due to weak demand and an expected increase in shipments, according to the Argus agency.

The Russian budget for 2020 is balanced at $42.4 per barrel of Urals crude.

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