Urals oil is currently trading in the market for about $ 52 per barrel.
The cost of Russian oil supplies has reached the lowest level since April 2023, despite Moscow’s attempts to ignore the possible restrictions of G7 restrictions. Bloomberg reported this on Wednesday, May 28th.
By the end of April, the volume of exports of oil from the Russian Federation reached an average of 3.39 million barrels per day -it was only 10 thousand barrels than the previous 28 -day period, Bloomberg’s tanks testified. However, the total cost of these supplies has become lowest in more than two years – about $ 1.25 billion per week.
From a peak of $ 1.95 billion per week (to April 21, 2024), export income decreased by 28%, and volumes – by 8%. Currently it is unclear how important the penalties it influences.
Despite this, G7 countries consider the possibility of reducing the maximum Russian oil price from $ 60 to $ 50 per barrel. But since the Urals oil has been exchanged for about $ 52, these restrictions have no real effect. Even in the case of a reduction, volumes may not suffer – the Russian Federation has accumulated the shadow of the fleet of tankers, which will dispense with western shipowners or insurers.
The penalties introduced against these UK vessels and the EU barely affect: consumers from China and India receive goods, including from blocked vessels. It is noted that the steps in the US are more effective, but they also begin to ignore them.
U.S. President Donald Trump said on Sunday that he was “absolutely” considering new sanctions against Russia over the war against Ukraine.
It is now mentioned that the gross value of Moscow exports has been reduced by nearly $ 20 million, or 1%, up to $ 1.26 billion per week, which ended on May 25, while the flow of flow was slightly compensated by a small increase in the weekly price medium.
Export prices for the Russian Urals brand from Baltic stamps increased by about $ 0.30 per barrel to an average mark of $ 51.80, while black sea goods increased by $ 0.20 to $ 52.40 per barrel. The price of various Pacific Espo oils fell by about $ 0.20 to $ 57 per barrel. Delivery prices in India have hardly changed and cost $ 62.90 per barrel.
Ukraine recommends set the maximum price for Russian oil for $ 30 per barrel.
Oil price fell to a critical minimum for the Russian Federation budget
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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.