Export Price of Urals Oil Showed Negative Values at the End of March
According to it, transportation costs, payment of export duties and other expenses exceeded the average cost of Urals oil on Monday and Tuesday. "Suppliers worry that a long period of low prices will contribute to zero or even negative profitability of oil sales in Russia", the agency said.
On Tuesday, a news agency report reported that Urals oil prices in Northwest Europe fell to their lowest level since March 1999 - $ 13 per barrel. According to the Ministry of Finance of the Russian Federation, the average price of Urals oil in January - March 2020 amounted to $ 48.18 per barrel.