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News // Russia

Prices increased 69% in one year for Russian Urals export oil blend

05 May 2010 , 09:54RIA Novosti1571



The average price of Russia's Urals export oil blend jumped 69% in April 2010 year-on-year to $82.5 per barrel as the world economy recovers from the effects of the global economic crisis, a Finance Ministry official said on Tuesday. Alexander Sakovich, head of the ministry's consolidated analysis department, said the Urals price was $48.81 per barrel in April 2009. "From January to April this year, the average oil price was registered at the level of $76.96 per barrel, compared with $44.79 per barrel in the first four months of last year," Sakovich said.

Russia's oil price equaled $76.71 per barrel in March 2010 and registered an increase of 7.5% in April this year, month-on-month, Sakovich said. Russia's Economic Development Ministry has raised its forecast on the average annual price of Urals crude this year from $54-57 per barrel to $76 per barrel following trends on global oil markets.

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