MOSCOW, January 9The average price of Russian Urals oil, on the basis of which oil taxes are calculated, in 2023 decreased by 17.2% compared to the 2022 level, amounting to $62.99 per barrel and being above the “price ceiling”, and in December last year it increased by 27.3% by December 2022, to $64.23 per barrel, follows from data from the Ministry of Finance of the Russian Federation in the Telegram channel.
«The average price for Urals oil in January-December 2023 was $62.99 per barrel, in January-December 2022 — $76.09 per barrel,» the report says. The price decreased over the year by 17.2%.
Thus, the average price of Urals in 2023 was higher than the price ceiling for Russian oil of $60 introduced by Western countries.
«The average price for Urals oil in December 2023 was $64.23 per barrel, which is 1.27 times higher than in December 2022 (50.47 dollar per barrel),” the Ministry of Finance added. This is 27.3% higher than in December 2022. At the same time, the price of North Sea Dated oil (Brent dated) in December was $77.88, which means the discount on Russian oil was $13.65.
The North Sea Dated quote is calculated based on the price of five North Sea oil grades, including Brent.
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