The Urals oil price from the Baltic Port of Primorsk fell to $ 52.76. It is 25% less than the price of $ 69.7 on the Russian state budget.
A sharp collapse in oil prices in the world led to a reduction in the price of leading Russian Black Gold different urals to $ 50 per barrel. This was reported by Bloomberg on Monday, April 7.
“Oil prices are essential for Russia’s federal budget, which depends on oil and gas for nearly 30% of income, and reducing revenue can be forced into the country’s finances,” the report said.
Thus, the Urals oil price from the Baltic Port of Primorsk fell from April 4 to 52.76 dollars. This is 25% less than prices of $ 69.7 in the Russian state budget.
In March, the Russian Ministry of Finance said it is expected that the average oil price to 2025 is closer to $ 60 per barrel. In this situation, it predicts that budget deficiency will increase, even no more than 1% of gross domestic product.
As you know, global oil prices fell as a result of large tariffs announced by the United States last week. Brent oil costs 75 dollars before this decision. Today, prices have fallen below $ 64 per barrel.
In addition to this, OPEC+ has decided to increase production next month, and Saudi Arabia has reduced oil prices.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.