Russia's Urals oil averaged $49.48/bbl in January, down 42% y/y

This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, Feb 1 (Reuters) - The average price for Russia's Urals oil blend was $49.48 per barrel in January, the Finance Ministry said on Wednesday, below a price cap of $60 on Western purchases and down 42% from January 2022. Russia's 2023 federal budget is based on an average Urals price for the year of $70.10 per barrel. The Finance Ministry's Urals price, used as the basis for taxation, is calculated by the Argus pricing agency and takes into account blend prices in the Baltic and Black Sea including the cost of insurance and freight (CIF). (Reporting by Vladimir Soldatkin; Writing by Caleb Davis)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Russia's Urals oil averaged $49.48/bbl in January, down 42% y/y

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio

off-the-wire

Russia&apos;s Urals oil averaged $49.48/bbl in January, down 42% y/y

By Reuters

Reuters

Reuters

Russia's Urals oil averaged $49.48/bbl in January, down 42% y/y