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Average Urals oil price falls 1.35-fold to $59.54 per barrel in January-September

According to the Finance Ministry, the average price for Urals oil in September 2023 reached $83.08 per barrel

MOSCOW, October 2. /TASS/. The average price of Russian Urals export oil in January - September 2023 fell 1.35-fold year-on-year and amounted to $59.54 per barrel, according to the Telegram channel of the Russian Finance Ministry.

"The average price for Urals oil in January-September 2023 was $59.54 per barrel and $80.58 per barrel in January-September 2022," the statement said.

According to the Finance Ministry, the average price for Urals oil in September 2023 reached $83.08 per barrel, which is almost 1.22-fold higher than a year earlier ($68.25 per barrel).

Earlier, the Ministry of Finance reported that the average price of Urals oil in January-August was $56.58 per barrel.

The Russian federal budget is based on the basic version of the forecast for the socio-economic development of the Russian Federation for 2023-2025, which assumes a gradual decline in prices for Russian Urals export oil - from $80 per barrel in 2022 to $65 per barrel in 2025.

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