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World oil prices

Urals oil price plunging in January-May, Finance Ministry says

The average Urals price in May 2023 totaled $53.34 per barrel

MOSCOW, June 1. /TASS/. The average price of the Russian Urals oil export blend dropped by 1.62 times year on year in January - May 2023 to $51.5 per barrel, the Finance Ministry said on its Telegram channel.

"The average Urals blend oil price evolved as $51.5 per barrel in January - May 2023; $83.48 per barrel in January - May 2022," the ministry said. The average Urals price in May 2023 totaled $53.34 per barrel, down 1.48 times year on year ($78.81 a barrel last May).

It was reported earlier that the average Urals price stood at $51.05 a barrel in January-April 2023.

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