MOSCOW, September 21. /TASS/. The Russian Ministry of Economic Development forecast the price of Urals oil in 2022 at $80 per barrel, in 2023 - $70.1 per barrel, the ministry said on Wednesday.

In terms of external conditions, the forecast highlighted a slowdown in global economic growth and global demand for commodities, redirection of Russian oil and gas exports to neutral countries.

"The price level for Russian oil in 2023 is estimated at $70 per barrel, by 2025 it will moderately drop to $65 per barrel,’ the Economic Development Ministry said.

The average price of Urals oil for eight months of 2022 increased by 26% to $82.13 per barrel. At the same time, the average price in August was $74.73 per barrel, which is 10% higher than in August 2021 ($68 per barrel). According to the earlier estimations of the Ministry of Finance, the export duty on oil in Russia from September 1, 2022, will decrease by $1 and will reach $52 per tonne.