The price of Russian oil dropped to the level of 90-ies

Russian Urals oil was trading at 16.2 per barrel. For the week, it fell to 5.51 dollar, so the price is back to 90-ies of the last century.

Цена на российскую нефть упала до уровня 90-х годов

Below contracts for Urals was only in June 1999, according to the petroleum information Agency Argus, the Tape.ru.

The record was the discount, which the Russian oil is sold in comparison with the level of Brent. On the stock exchange in Rotterdam, he rose to 4.75 the dollar — the highest since 2008, although at the end of last year, Urals was trading at a premium.

In the Mediterranean region the fall is not so noticeable in the Italian Augusta barrel is 18.45 USD. However there taken at least February 2002.

The fall in the cost is due, in particular, with Russia’s plans to increase deliveries in April. Such dynamics are predicting the collapse of the deal, OPEC+, and the beginning of the season repairs at Russian refineries. Total supply may rise by 13 percent compared to March.