Russian Crude Blend Urals Averages $43.91 Per Barrel In July - Finance Ministry

MOSCOW (Pakistan Point News / Sputnik - 03rd August, 2020) Crude blend Urals, Russia's main export earner, averaged $43.91 per barrel in July, up 5 percent from June, topping the Russian budget rule's threshold price of $42.2 per barrel for the first time since February, the Russian Finance Ministry said on Monday.

"The average price for Urals oil in July 2020 was $43.91 per barrel, which is 1.4 times lower than in July 2019 ($63.34 per barrel)," the ministry said.

In June, Urals averaged $41.93 per barrel. In January-July 2020, Urals averaged $40.34 per barrel, down from $65.27 per barrel in January-July 2019.