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Russia’s Urals blend average oil price down 9.5% in 2014 to $97.6 per barrel

January 12, 2015, 12:47 UTC+3 MOSCOW
In 2013, the average price of Russia’s Urals blend stood at $107.88 per barrel
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© ITAR-TASS/Vasiliy Alexandrov

Infographics Oil prices over 30 years Oil prices over 30 years
Year-average inflation-adjusted oil price. Infographics by TASS

MOSCOW, January 12. /TASS/. The average price of Russia’s Urals oil blend declined by 9.5% in 2014 to $97.60 per barrel, leading expert of the Finance Ministry’s Tax, Customs and Tariff Policy Department Alexander Sakovich said on Monday.

In 2013, the average price of Russia’s Urals blend stood at $107.88 per barrel.

The Urals price fell by 44.4% in December 2014 from the previous year to $61.07 per barrel.

Russia’s Economic Development Ministry expects an oil price at $80 per barrel in 2015 while the Finance Ministry predicts an oil price of $60 per barrel this year.

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