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World oil prices

Average price of Urals oil in January-October fell 1.29-fold to $61.84 per barrel

According to Russia’s Ministry of Finance, the average price for Urals oil in October 2023 was $81.52 per barrel

MOSCOW, November 1. /TASS/. The average price of Russian Urals export oil in January - October decreased 1.29-fold compared to the same period last year and amounted to $61.84 per barrel, Russia’s Ministry of Finance said in its Telegram channel.

"The average price for Urals oil in January - October 2023 was $61.84 per barrel and $79.57 per barrel in January - October 2022," the statement said.

According to the ministry, the average price for Urals oil in October 2023 was $81.52 per barrel, which is 1.15-fold higher than in October 2022 ($70.62 per barrel).

Earlier, the Ministry of Finance reported that the average price of Urals in January - September was $59.54 per barrel.

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

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