Russian crude prices are at their lowest since the war in Ukraine began, as sanctions deepen the discounts the nation’s oil industry needs to offer and benchmark futures tumble.
On average, Russian oil exporters are receiving just over $40 a barrel for cargoes shipped from the Baltic, Black Sea and the eastern port of Kozmino, according to data from Argus Media. That’s down 28% over the last three months, with recent restrictions targeting oil giants Rosneft and Lukoil widening the markdowns.
OneNormalBloke on
That still $40 too high.
morozrs5 on
Low oil prices are the best bet of the free world.
Markis_Shepherd on
I have seen claims of an even lower price, but ok this is average. To check the price of Russian I go to oilprice.com and look for Urals with 🇷🇺 next to it. $51.5, but article claims $40 on average (see OPs comment)? Presumably the discrepancy is because of discounts to china and India. What are prices on oilprice.com and other such pages based on?
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*From Bloomberg News reporter Alex Longley:*
Russian crude prices are at their lowest since the war in Ukraine began, as sanctions deepen the discounts the nation’s oil industry needs to offer and benchmark futures tumble.
On average, Russian oil exporters are receiving just over $40 a barrel for cargoes shipped from the Baltic, Black Sea and the eastern port of Kozmino, according to data from Argus Media. That’s down 28% over the last three months, with recent restrictions targeting oil giants Rosneft and Lukoil widening the markdowns.
That still $40 too high.
Low oil prices are the best bet of the free world.
I have seen claims of an even lower price, but ok this is average. To check the price of Russian I go to oilprice.com and look for Urals with 🇷🇺 next to it. $51.5, but article claims $40 on average (see OPs comment)? Presumably the discrepancy is because of discounts to china and India. What are prices on oilprice.com and other such pages based on?