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.

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.

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.

In 2024, Russia produced approximately **** million barrels of oil daily, down from **** million barrels recorded in the previous year. The volume of crude oil, shale oil, oil sands, and natural gas liquids supplied by Russia continuously increased until 2019, making it the world’s third-largest oil producer. Over the next three decades, Russia was forecast to decrease its oil production under both the current trajectory and net-zero scenarios. Russia’s oil dependency The Russian oil industry is the major contributor to the country’s exports, which makes the country vulnerable to decreasing oil prices. Under the conservative scenario, the fuel and energy complex was forecast to decrease its share in the country’s gross domestic product from ** percent to ** percent between 2020 and 2040. OPEC deal – a reduction in Russian oil output? In 2016, Russia and the Organization of the Petroleum Exporting Countries (OPEC) reached an agreement, according to which Russia cut its oil production to facilitate the increase in crude oil prices. In compliance with the deal from December 2019, in the first quarter of 2020, Russia’s reduction quota reached 300 thousand barrels daily. In March 2020, the OPEC+ deal collapsed, as Russia refused to cut its oil output due to the coronavirus (COVID-19) pandemic. Starting from May 1, 2020, a new OPEC+ deal began, setting oil production cuts at 9.7 million barrels daily.

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.

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.

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.

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.

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.

Russia Average World Price: Crude Oil: Urals: per 1 Barrel: Mid Month data was reported at 61.703 USD/Barrel in Jan 2019. This records an increase from the previous number of 55.945 USD/Barrel for Dec 2018. Russia Average World Price: Crude Oil: Urals: per 1 Barrel: Mid Month data is updated monthly, averaging 52.394 USD/Barrel from Feb 2016 (Median) to Jan 2019, with 36 observations. The data reached an all-time high of 81.063 USD/Barrel in Sep 2018 and a record low of 28.385 USD/Barrel in Feb 2016. Russia Average World Price: Crude Oil: Urals: per 1 Barrel: Mid Month data remains active status in CEIC and is reported by Ministry of Economic Development of the Russian Federation. The data is categorized under Russia Premium Database’s Prices – Table RU.PC002: Average World Prices, Crude Oil Export Price, Crude Oil Export Duty. Since April 1, 2013 Ministry of Economic Development is the responsible federal organ for monitoring the world Urals prices fluctuations. They use daily prices (purchase and sale) for oil published by Argus Media Limited and calculate arithmetic average for all daily prices, rounded to the 5th decimal place. The monitoring period is from the 15th day of each calendar month to the 14th day of the following calendar month. С 1 апреля 2013 года Министерство экономического развития Российской Федерации уполномоченным федеральным органом исполнительной власти, осуществляющим мониторинг цен на нефть сырую марки 'Юралс' (купли-продажи) на мировых рынках нефтяного сырья (средиземноморском и роттердамском). Они используют дневные цены (купли-продажи) на нефть, опубликованные 'Аргус Медиа Лимитед', и вычисляют среднее арифметическое для всех суточных цен, округленное до пятого знака после запятой. Периодом мониторинга является период с 15-го числа каждого календарного месяца по 14-е число следующего календарного месяца.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on December of 2025.

Oil prices recover as traders focus on Trump's upcoming announcement about Russia, with Brent crude near $69 per barrel amidst geopolitical tensions and proposed tariffs.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Learn about the production costs of crude oil in different countries and how it can impact global oil prices. Find out the estimated production costs for major oil-producing countries such as the United States, Saudi Arabia, Russia, Iraq, Canada, Venezuela, Iran, United Arab Emirates, Brazil, and Kuwait.

Gasoline Prices in Russia decreased to 0.83 USD/Liter in November from 0.84 USD/Liter in October of 2025. This dataset provides the latest reported value for - Russia Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Comprehensive dataset on Russia's energy sector, economy, and socio-economic metrics from post-Soviet era to future projections.

This dataset provides a historical and projected overview of key economic, energy, and social indicators for Russia spanning from 1991 (post-Soviet dissolution) to 2025 (including forecasts). It focuses on the oil and gas sector, which has been a cornerstone of Russia's economy, alongside broader macroeconomic and demographic metrics. The data is useful for analyzing trends in energy production, exports, fiscal dependencies, inflation, and social inequality during periods of economic transformation, crises (e.g., 1998 ruble crisis, 2014 sanctions), and recent geopolitical events. Key Features:

Time Coverage: Annual data from 1991 to 2025 (with projections for 2024-2025 based on estimates). Rows: 35 (one per year). Columns: 29, covering energy production, prices, exports, fiscal indicators, demographics, and more. File Format: CSV (UTF-8 encoded for compatibility with special characters like en-dash in tax rates). Data Sources: Compiled from public sources including Rosstat, World Bank, IMF, EIA (U.S. Energy Information Administration), and Russian Central Bank reports. Projections for 2024-2025 are estimates based on trends and may require updates. Missing Values: Some fields (e.g., early years for FDI or import volumes) are blank due to data unavailability; handle with imputation if needed.

Column Descriptions

Githab rep https://github.com/AsDo001/Forecasting-of-revenues-to-the-budget-of-the-Russian-Federation

As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

UK oil and natural gas production is on long-term decline as old oil and gas fields in the North Sea mature and near the end of their life cycle. Oil and gas extracting companies reaped the rewards of an upsurge in global prices through 2022-23, leading to sharp revenue growth. However, this quickly turned around in 2023-24, with most major companies’ revenue nosediving along with oil prices as oil and gas from America flooded the market, slightly outpacing demand. Still, revenue is expected to expand at a compound annual rate of 5.1% over the five years through 2025-26 to £23 billion, owing primarily to the significant price hikes of 2021-22 and 2022-23. This includes a forecast dip of 4.3% in 2025-26, owing to oil and gas prices edging down. Profit is also slated to fall over the year. Global oil and gas prices greatly affect the industry's performance, with the Organisation of the Petroleum Exporting Countries (OPEC) putting supply cuts in place and global tensions resulting in price peaks and troughs. In October 2022, OPEC instituted a supply cut of two million barrels of crude oil per day, driving Brent Crude Oil prices up to US$110 (£87.80) per barrel, which was extended until March 2025. At the same time, the sanctions on Russian oil and gas imports because of the Russia-Ukraine conflict add further impetus to prices. The EU has banned imports of Russian-made oil and gas, providing opportunities for UK exporters. Crude oil prices remain high, but significant oil production from non-OPEC countries has made oil prices plummet since July 2024. Despite mounting tensions in the Middle East having the potential to cut oil supply from the region, the ongoing political tensions have yet to significantly impact global prices, with prices falling by 15.8% in the year to August 2025. Oil and gas prices are likely to continue inching downwards in the coming years. The UK government has implemented policies to create a more favourable environment for extractors in the North Sea to improve UK energy security. However, the depletion of natural resources, the high cost of extraction, low gas and oil prices and the global energy transition will threaten the industry's long-term viability. Revenue is forecast to climb at a compound annual rate of 2% over the five years through 2030-31 to £25.4 billion, supported by two new major oil and gas fields, Jackdaw and Rosebank.

Avg Crude Oil World Price: Period End: Urals (Med) data was reported at 51.140 USD/Barrel in Dec 2018. This records a decrease from the previous number of 82.430 USD/Barrel for Sep 2018. Avg Crude Oil World Price: Period End: Urals (Med) data is updated quarterly, averaging 68.480 USD/Barrel from Dec 2004 (Median) to Dec 2018, with 57 observations. The data reached an all-time high of 134.750 USD/Barrel in Jun 2008 and a record low of 33.910 USD/Barrel in Dec 2015. Avg Crude Oil World Price: Period End: Urals (Med) data remains active status in CEIC and is reported by Central Dispatching Department of Fuel and Energy Complex. The data is categorized under Russia Premium Database’s Energy Sector – Table RU.RBL021: CDU TEK: Average Crude Oil World Price: by Type: Quarterly.