In December 2024, the average monthly price of the Urals crude oil, Russia's major export oil brand, was approximately 62 U.S. dollars per barrel, having increased slightly 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 16.6 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 35.4 billion U.S. dollars in 2021. In physical terms, Russia supplied around 107 million metric tons of crude oil to China in 2023, 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 78 percent of oil and petroleum products imported into Slovakia in 2020. To compare, the dependence rate stood at nearly 69 percent in Lithuania, 30 percent in Germany, and 12 percent in the UK.

Urals Oil decreased 3.02 USD/Bbl or 4.41% since the beginning of 2025, 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.

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 569.7 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 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

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.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.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 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 (whereby a contract is agreed upon, while the 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.

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.

In 2024, the export price for one barrel of the Urals crude oil was expected to reach 70 U.S. dollars. In the following year, the Russian government expected it to decrease slightly, and in 2027, it was projected to reach 65.5 U.S. dollars per barrel. Urals is Russia's major export oil brand. Crude oil prices in Russia Different types of oil, such as light-weight, 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 95 U.S. dollars per barrel in February 2022 and a low of 16.6 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 account 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 79.5 U.S. dollars per barrel in 2024. Furthermore, Dubai Fateh oil prices have fluctuated in the past decade, having reached 82.1 U.S. dollars per barrel in 2023. 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.

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.

Oil prices have risen due to reduced supply from OPEC and Russia, coupled with stronger U.S. economic growth. Explore insights on future oil price trends and market dynamics.

Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, 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 March of 2025.

Gasoline Prices in Russia increased to 0.69 USD/Liter in February from 0.62 USD/Liter in January 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.

In 2024, the Russian rapeseed oil market was finally on the rise to reach $14M after two years of decline. Over the period under review, consumption faced a abrupt curtailment. Over the period under review, the market reached the maximum level at $216M in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three 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 a 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.

Russia Average World Price: Diesel Fuel (Gasoil) data was reported at 556.400 USD/Ton in Dec 2018. This records a decrease from the previous number of 644.300 USD/Ton for Nov 2018. Russia Average World Price: Diesel Fuel (Gasoil) data is updated monthly, averaging 654.000 USD/Ton from Jan 2009 (Median) to Dec 2018, with 119 observations. The data reached an all-time high of 1,030.100 USD/Ton in Mar 2012 and a record low of 292.500 USD/Ton in Jan 2016. Russia Average World Price: Diesel Fuel (Gasoil) 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 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Palm Kernel Oil Price in Russia - 2022. Find the latest marketing data on the IndexBox platform.

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Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, 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 March of 2025.