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.