Prices for Urals oil at the end of last week fell to $51.96 per barrel at the port of Primorsk, Bloomberg notes.
The price of Russian flagship Urals oil fell again. This was reported by the Bloomberg news agency on Monday, November 28.
In particular, prices for Urals at the end of last week fell to $51.96 per barrel in the port of Primorsk on the Baltic Sea. In addition, oil prices fell to a similar level in Novorossiysk on the Black Sea.
At the end of last week, EU diplomats discussed restrictions on the sale of Russian oil in the range of $65-70 per barrel. These negotiations are scheduled to resume on Monday 28 November.
The problem is that some EU countries, including Poland, are pushing for a lower cap to punish the Kremlin for its war in Ukraine. However, Greece, the largest owner of oil tankers in the world, prefers to impose an upper limit.
Diplomats must reach consensus, and the number they agree on must be ratified by the G7, the media added.
The publication notes that currently there is also significant uncertainty regarding Russian oil prices. The reason for this is that trade in Russian oil products became less transparent after the war.
As previously reported, the EU reduced the price cap on Russian oil exports, postponed its full implementation and changed key delivery provisions.
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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.