AVERAGE PRICE URALS JANUARY-JULY 2016 FELL BY A THIRD
According to the Russia’s Finance Ministry, the average price of Russia's main export blend Urals crude oil in the first seven months of this year slipped by 32% compared to the same period last year and amounted to $38.68/bl.
In 2015, the average price of Urals in January-July was $56.76/bl .
The average price for Urals blend in July 2016 was $43.58/bl which is 1.3 times lower than in July 2015, when it was $ 55.51/bl.
Official Ministry of Economic Development forecast for the 2016 crude price is $50/bl. However, the Russian authorities have already said they would adjust forecasts based on current realities.
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