For the first time in ten months, the cost of Russian oils dropped below $ 50 per barrel against behind a global collapse in oil prices and stock markets. It is $ 20 below the numbers planned in the Russian budget.
The cost of the Urals brand – the main export of various workers in the Russian oil industry – fell below $ 50 per barrel. It was reported by Russian media that there was a reference to Argus data.
On April 9, the Urals cargo from the Port of Primorsk sold $ 47.54 per barrel, and at Novorossiysk – at $ 48.39. Compared to the average mid -January price, when Urals cost $ 70 and higher, different Russians fell over $ 20, or almost 33%. On Thursday, April 10, the Urals quotes rose to $ 50.35 and $ 51.2 per barrel, respectively, but remained almost a third less than the level planned on the budget ($ 69.7 per barrel).
The premium of various ESPs also fell: April 9 – up to $ 53.19 from $ 56.63, April 10 – slightly recovered to $ 56.47.
Both types of oil – Urals and Espo – are currently exchanged less than the basic price laid on the Russian budget for 2025 ($ 69.7), and below the budget rule mark ($ 60), according to which the Russian National Welfare Fund was formed.
Due to the collapse of oil prices that Trump’s trade wars and an increase in OPEC, Russia’s production, “standing before the economic crisis,” wrote Yanis Kya, a researcher at the German Institute of International Security Problems.
Each fourth ruble on the federal budget of the Russian Federation depends on the oil, which this year will have to spend 13 trillion rubles on the army and weapons.
By oil below $ 50, the Ministry of Finance of the Russian Federation had to launch a budget -following budget, analysts warned. In these quotes, the Russian Federation budget will not receive 1.9 trillion rubles of raw annuity, and if the Urals shake up to $ 45, almost 3 trillion.
Remember that global oil prices began to decline after this year’s best growth due to news about the conclusion of the introduction of import duties in the United States for a number of countries
No good scenario: The inevitable fall in oil prices will end the Russian Federation
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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.