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Average Urals oil price down by 27% in 9 months of 2016

October 31, 2016, 14:36 UTC+3 MOSCOW
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MOSCOW, October 31. /TASS/. The average price of Urals oil in the first 9 months of 2016 decreased by 27% year-on-year to $39.7 against $54.4 in the same period last year, according to the report of the Economic Development Ministry on socio-economic situation in January - September 2016.

"In September 2016, the price of Urals oil increased by 1.2% and amounted to $44.2 per barrel against August. Compared with September 2015, the price fell by 5.2%," the Ministry said.

Earlier the Economic Development Ministry presented three development scenarios in its socioeconomic development outlook. The base scenario with Urals oil price of $41 per barrel in 2016 and $40 per barrel in 2017-2019, the "base plus" (best case) with oil price growth to $48 per barrel in 2017, $52 and $55 per barrel in 2018-2019 and the target case with the same oil prices but greater GDP growth rates.

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