The average price of Russian Urals and ESPO 2 oil mixture is 40% lower than planned by the Russian government for 2025.
UNN reports with reference to Reuters.
Details
The Russian oil price in rubles reached a two-year low, which is 40% lower than the level set by the Russian government for 2025.
According to Reuters' estimates, the average price of Russian Urals and ESPO oil fell to 3,987 rubles or $48.92 per barrel on May 2.
This is the lowest figure since May 2023. It is also significantly lower than the recently reduced government forecast of 5,281 rubles per barrel for the Russian oil blend.
Amid falling oil prices, the Russian government last week raised its budget deficit estimate for 2025 from 0.5% to 1.7% of gross domestic product.
Recall
The US President believes that Putin, after the fall in oil prices, will be more inclined to peace.
Oil prices rose in Asian trading, recovering from a drop to their lowest level since 2021.
Over the past day, oil prices fell by more than $2 a barrel due to OPEC+'s plans to accelerate production.