Urals Oil fell to 54.22 USD/Bbl on December 1, 2025, down 0.37% from the previous day. Over the past month, Urals Oil's price has fallen 7.52%, and is down 17.95% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

In May 2025, the average monthly price of the Urals crude oil, Russia's major export oil brand, was approximately ***** U.S. dollars per barrel, having decreased from the previous month. In 2020, the price of the Urals experienced a considerable decrease at the beginning of the year due to the coronavirus (COVID-19) pandemic, dropping to as low as **** U.S. dollars per barrel in April. What is the purpose of the Russian oil price cap? In early December 2022, the G7 (Canada, France, Germany, Italy, Japan, United Kingdom (UK), and the United States), the European Union (EU), and Australia formed the Price Cap Coalition and imposed a price cap of 60 U.S. dollars per barrel on oil originating in Russia. The aim of the price ceiling is to decrease Russia’s earnings from oil exports and thereby limit the Russian government’s budget to finance the war in Ukraine. At the same time, the cap is meant to ensure that Russia continues to supply oil to emerging economies, though at a discounted price. With the cap in place, Russia cannot sell oil at a higher price even to third countries if the oil tankers are financed or insured by members of the Price Cap Coalition. In early February 2023, a price cap of 100 U.S. dollars per barrel was imposed on Russian refined oil products. Global dependence on Russian oil China was Russia’s leading crude oil export destination, with the value of exports measured at nearly **** billion U.S. dollars in 2021. In physical terms, Russia supplied around *** million metric tons of crude oil to China in 2024, being the leading crude oil import origin in the country ahead of Saudi Arabia. Furthermore, European countries were major consumers of Russian oil prior to the war in Ukraine. For instance, Russia accounted for over ** percent of oil and petroleum products imported into Slovakia in 2020. To compare, the dependence rate stood at nearly ** percent in Lithuania, ** percent in Germany, and ** percent in the UK.

Russia Average World Price: Crude Oil: Urals: per 1 Barrel data was reported at 91.200 USD/Barrel in Mar 2019. This records an increase from the previous number of 80.700 USD/Barrel for Feb 2019. Russia Average World Price: Crude Oil: Urals: per 1 Barrel data is updated monthly, averaging 58.745 USD/Barrel from Jun 2000 (Median) to Mar 2019, with 226 observations. The data reached an all-time high of 129.710 USD/Barrel in Jul 2008 and a record low of 18.200 USD/Barrel in Nov 2001. Russia Average World Price: Crude Oil: Urals: per 1 Barrel data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Table RU.PC002: Average World Prices, Crude Oil Export Price, Crude Oil Export Duty.

Russia exported crude oil for an average price of ***** U.S. dollars per metric ton in January 2022. The average price of the fossil fuel marked an increase from the previous month. A sharp decline occurred in the spring of 2020, impacted by the COVID-19 pandemic and the oil price conflict with Saudi Arabia. A similar trend was observed in the price of Urals, Russia's major crude oil export brand.

Russia Average World Price: Crude Oil: Urals: per 1 Ton data was reported at 420.400 USD/Ton in Dec 2018. This records a decrease from the previous number of 473.000 USD/Ton for Nov 2018. Russia Average World Price: Crude Oil: Urals: per 1 Ton data is updated monthly, averaging 425.600 USD/Ton from Jun 2000 (Median) to Dec 2018, with 223 observations. The data reached an all-time high of 947.800 USD/Ton in Jul 2008 and a record low of 132.800 USD/Ton in Nov 2001. Russia Average World Price: Crude Oil: Urals: per 1 Ton data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Table RU.PC002: Average World Prices, Crude Oil Export Price, Crude Oil Export Duty.

On January 1, 2025, the largest volume of Russian crude oil shipments went to India, at around ******* metric tons per day based on a 30-day running average. Since the beginning of 2022, the shipments to the European Union (EU) and the United States have decreased significantly. Both the EU and the U.S. imposed sanctions on oil imports from Russia in response to the invasion of Ukraine in 2022. The EU banned seaborne crude oil imports starting from December 5, 2022, while the U.S. banned all imports of oil and petroleum products from Russia on March 8, 2022. Existing deals had to be ended by April 22, 2022. Furthermore, the G7, the EU, and Australia imposed a price cap of 60 U.S. dollars per barrel from December 5, 2022, to reduce Russia's energy export revenue, which is one of its largest sources of income. Which countries started buying more oil from Russia? Faced with Western sanctions on Russian oil, Russia increased crude oil shipments to China, India, Turkey, Egypt, and the United Arab Emirates. In fact, China contributed the most to Russia's oil export revenue since the war in Ukraine, at approximately *** billion euros as of January 2025. However, the oil price ceiling imposed in December 2022 could make it more difficult for Russia to export to non-Western countries, too. This is because the policy also applies to tankers that belong to the sanctioning countries, as well as those insured or financed by them. For instance, Russian oil cannot be transported to Turkey for a price above the market cap if it is insured by EU or United Kingdom (UK) companies. How much does Russia earn from oil exports? Crude oil has traditionally been the main source of fuel and energy export revenue of Russia. Between February 24, 2022, and January 30, 2025, Russia earned around *** billion euros from oil exports, including crude oil and refined products. Over the same period, EU countries paid around *** billion euros for Russian oil.

The price of Russian crude oil is determined by a combination of factors, including supply and demand dynamics, geopolitical events, production levels, and global economic conditions. This article discusses the impact of Russian crude oil price fluctuations on the global oil market, particularly in Europe, and highlights the factors that influence these fluctuations. It emphasizes the importance of understanding the dynamics of Russian crude oil prices for market participants, energy analysts, and policymak

India Imports from Russia of Crude Oil was US$52.73 Billion during 2024, according to the United Nations COMTRADE database on international trade. India Imports from Russia of Crude Oil - data, historical chart and statistics - was last updated on December of 2025.

Explore the factors influencing the pricing and demand for ESPO crude oil, a premium Russian oil grade favored for its low sulfur content and strategic positioning in the Asia-Pacific markets. Learn about market dynamics, geopolitical impacts, and energy transition trends shaping this key export.

Russia Average Producer Price: Crude Oil: per Litre data was reported at 17.820 RUB/l in Jan 2019. This records a decrease from the previous number of 19.160 RUB/l for Dec 2018. Russia Average Producer Price: Crude Oil: per Litre data is updated monthly, averaging 10.465 RUB/l from Jun 2011 (Median) to Jan 2019, with 92 observations. The data reached an all-time high of 21.960 RUB/l in Nov 2018 and a record low of 6.640 RUB/l in Jul 2011. Russia Average Producer Price: Crude Oil: per Litre data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Global Database’s Russian Federation – Table RU.RBL010: Average Producer Price: by Federal District: Fuel.

Crude Oil fell to 59.17 USD/Bbl on December 2, 2025, down 0.25% from the previous day. Over the past month, Crude Oil's price has fallen 3.08%, and is down 15.40% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on December of 2025.

Among European Union countries, Slovakia is the most dependent on Russian oil and petroleum products. In 2020, Russia was the origin country for 78 percent of the country's total imports of such commodities. In Germany, Russian oil products held a 30 percent market share. This has become cause for concern for the EU as it tries to distance itself from Russia following its invasion of Ukraine in February 2022. An already unfolding energy crisis was worsened as a result.

Europe is Russia’s largest oil export market

When EU leaders began debating how to sanction Russia, it illuminated an unfortunate predicament. Namely, the fact that many European countries had grown strongly dependent on energy supplies from their oil and gas-rich neighbor. Apart from Norway, Russia is the only country located on the European continent with sizable reserves of these fossil fuels. Buoyed by their relative close proximity, EU member states such as the Netherlands (a refinery hub), Germany, and Poland have thus been among Russia’s main crude oil export destinations for years.

Rising energy costs and insecurity

When the EU decided to cut out Russian oil and gas imports as much as possible, it put further upward pressure on an already hot commodity market. The Russia-Ukraine war had led to many market traders anticipating some of the worst oil constraints seen since the oil crisis of 2014, and benchmark prices rose significantly. As energy prices are largely determined by the price of fossil fuels, a respectable share of Europeans has been struggling to pay their energy bills.

In September 2023, crude oil production in Russia was measured at *** million barrels per day, having remained on the same level as in the previous month. In April 2022, the output saw a decrease due to Western bans on oil imports from Russia due to its invasion of Ukraine that started in February 2022. The production also dropped significantly in the second and third quarters of 2020 during the oil price war with Saudi Arabia. Russian oil production after the invasion of Ukraine Despite the Western sanctions on its oil industry, Russia increased its crude oil production in 2022 compared to the previous year, by nearly *** percent. Having stopped supplying crude oil to the U.S. and the European Union (EU), Russia has increased imports to China, India, and Turkey, which have become the leading importers of this product. How much oil is produced in the BRICS? In 2022, three of the BRICS members, Russia, China, and Brazil, made it to the top 10 oil producers worldwide. Russia was the leading oil-producing country among the organization’s members, having produced over ** million barrels of oil per day. India had a significantly lower oil production volume, at less than *** million barrels daily, while South Africa did not produce crude oil. Thus, in total, the BRICS countries produced approximately **** million barrels of oil per day.

The price of Urals crude oil was recorded at 16.77 U.S. dollars per barrel below the benchmark Brent on September 20, 2023 (based on a rolling average of the past five days). The difference increased after a price cap on Russian oil was announced on December 2, 2022, and took effect on December 5, 2022, but it has been decreasing since end-March 2023. At the end of February 2022 and throughout March 2022, the discount rose significantly, reflecting the market reaction to the Russia-Ukraine war. In August 2023, the average price of Urals oil reached 74.5 U.S. dollars per barrel.

Russian oil price cap In December 2022, members of the G7, together with the European Union (EU) and Australia, limited the price of one barrel of Russian oil to 60 U.S. dollars in response to the war in Ukraine. The cap was planned to be reviewed every two months to reflect future market developments. The Russian government stated it would not supply oil to the countries imposing a price ceiling on its oil. While the effect of the ban on global oil prices is yet to be seen, it is expected that the ban would benefit other oil producing countries, as the EU would have to replace Russian supplies with other routes. Germany and Poland were the leading importers of Russian oil in the EU in 2021.

EU ban on Russian oil imports
The EU ban on Russian seaborne crude oil imports, announced in June 2022, took effect on December 5, 2022. Furthermore, refined petroleum products will be included from February 5, 2023. Even though the EU prohibited imports of Russian oil and refined products, it still allowed their transport to non-EU countries as long as they are purchased for 60 U.S. dollars per barrel or lower. As a result of the ban, Russia's oil production was forecast to decline to 438 million metric tons in 2022, down 10 percent from the previous year.

Discover the dynamic Russia Federation oil and gas industry forecast (2025-2033). This comprehensive market analysis reveals key drivers, restraints, and trends, including regional insights and leading companies like Gazprom and Rosneft. Explore market size projections, CAGR, and detailed segment analysis for informed decision-making. Recent developments include: In October 2022, ExxonMobil Corp. announced that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project., In September 2022, Shell PLC walked away from Russia's Sakhalin-2 liquefied natural gas project after President Vladimir Putin transferred the major facility to a new operating company. The President also issued a decree that blocks ExxonMobil Corp. from selling its interest in the Sakhalin-1 oil project until the end of the year.. Notable trends are: Upstream Segment Expected to be the Fastest-growing Market.

.OPEC.CO: Crude Oil Imports

Russia Average World Price: Gasoline: Nafta data was reported at 457.000 USD/Ton in Dec 2018. This records a decrease from the previous number of 502.700 USD/Ton for Nov 2018. Russia Average World Price: Gasoline: Nafta data is updated monthly, averaging 519.750 USD/Ton from Jun 2000 (Median) to Dec 2018, with 222 observations. The data reached an all-time high of 1,085.200 USD/Ton in Jun 2008 and a record low of 150.300 USD/Ton in Nov 2001. Russia Average World Price: Gasoline: Nafta data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Table RU.PC002: Average World Prices, Crude Oil Export Price, Crude Oil Export Duty.

The export price for one barrel of Urals crude oil was expected to reach ** U.S. dollars in 2025. In the following three years, the Russian government expected it to increase. In 2028, it was projected to reach ** U.S. dollars per barrel. Urals is Russia's major export oil brand. Crude oil prices in Russia Different types of oil, such as lightweight, low-sulfur (light-sweet) grades and heavier, higher-sulfur (heavy-sour) crudes, can create differences in oil prices. Prices of a barrel of crude oil tend to fluctuate throughout the year due to factors like sulfur content, specific gravity, and location. In recent years, the price of Russian Urals crude oil reached a high of almost ** U.S. dollars per barrel in February 2022 and a low of **** U.S. dollars per barrel in April 2020. The Urals oil is used as a basis for Russian export oil mixture—a mix of heavy, high-oil from the Urals and Volga region and a light Siberian oil. The oil and gas industry accounts for a large majority of the country’s export income. Many global sources of crude oil are located in areas that are prone to political upheavals or have production disrupted by political events. Prices of major crude oil blends In comparison, the West Texas Intermediate crude oil price was estimated at ***** U.S. dollars per barrel in 2025. Furthermore, Dubai Fateh oil prices have fluctuated in the past decade, having reached ***** U.S. dollars per barrel in 2024. Prices of petroleum products fluctuate in parallel with crude oil prices but can also depend on seasonality, market factors, or refining outages. Petroleum products like gasoline, diesel, and petrochemical feedstocks are usually the most relevant to consumers.

The Russian crude oil market reached $179.3B in 2024, remaining constant against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Crude oil consumption peaked at $192.9B in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

Russia Average Export Price: Sunflower Oil data was reported at 754.400 USD/Ton in Nov 2018. This records a decrease from the previous number of 771.200 USD/Ton for Oct 2018. Russia Average Export Price: Sunflower Oil data is updated monthly, averaging 817.900 USD/Ton from Jan 2013 (Median) to Nov 2018, with 71 observations. The data reached an all-time high of 1,255.200 USD/Ton in Feb 2013 and a record low of 738.400 USD/Ton in Jun 2017. Russia Average Export Price: Sunflower Oil data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Global Database’s Russian Federation – Table RU.PC001: Average Export Price.