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Actual price of Russian oil export to exceed outlook on Urals of $55 per barrel

Meanwhile the actual export price of Russian oil will be slightly higher considering higher prices at other supply locations

MOSCOW, May 11. /TASS/. The actual price of oil exports from Russia will exceed the outlook on Urals oil of $55 per barrel considering higher prices at other supply locations, according to the report on the Russian Central Bank’s monetary policy released on Thursday.

"The projected price of Urals oil for 2023-2025 remained unchanged at $55 per barrel. Meanwhile the actual export price of Russian oil will be slightly higher considering higher prices at other supply locations," the report reads.

Overall, the price of Urals oil followed Brent prices, having formed at around $55 per barrel by the end of April, the regulator noted. Urals’ discount to Brent after extending to $34 per barrel in January-February due to embargo and the price ceiling had narrowed to $25 per barrel by April.

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