The North Sea Dated oil price was $77.88 in December. Thus, the Urals discount for this benchmark increased to 17.53%.
The average price for the top Russian Urals oil at the end of 2023 was determined at $62.99 per barrel. Compared to 2022 ($76.09 per barrel), it decreased by 17.2%, the Russian Ministry of Finance reported on Tuesday, January 9.
At the same time, in December the average price for Urals was $64.23 per barrel, which is 27.3% higher than in December 2022 ($50.47 per barrel).
The price for North Sea Dated oil in December last year, according to the Ministry of Finance of the Russian Federation, was $77.88. So, the Urals discount for this benchmark is 17.53%.
In November, the discount was about 12.37%, that is, in December it increased by 5.16%. The spread widened for the second month in a row; in November it added about 1.9%. Before this, the discount has been steadily decreasing since the spring of 2023.
We remind you that the day before oil prices fell due to Saudi Arabia. The Saudis decided in February to reduce the price of all types of oil for all regions where it is supplied.
Source: korrespondent
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