Logo
  Sunday, November 17, 2019
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The average price of crude oil could stay at an annual average of $61 per barrel in 2007
The average price of crude oil could stay at an annual average of $61 per barrel in 2007, Russian Finance Minister Alexei Kudrin said Monday. "The average price of oil was $61 a barrel in 2006, and could remain unchanged this year," Kudrin said, referring specifically to the price of Urals export crude. The price was used to draw up Russia's federal budget for this year, but the Economic Development and Trade Ministry in February lowered its estimate to $55 per barrel. Kudrin said Russia is now enjoying peak prices for its Urals blend, which sold at a mere $12 a barrel only a decade ago. He also said the price is likely to drop to $50 in the next few years. Russia launched a new export blend, REBCO, on the New York Mercantile Exchange (NYMEX) last October. It is priced $5-6/bbl above Urals and is expected to eventually replace the older blend as Russia's price index used for calculating supply prices, export duties and mineral extraction tax.
Print The average price of crude oil could stay at an annual average of $61 per barrel in 2007 Bookmark The average price of crude oil could stay at an annual average of $61 per barrel in 2007

Related News   
MayJune 2007Jul
MoTuWeThFrSaSu
28293031123
45678910
11121314151617
18192021222324
2526272829301
2345678