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.

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.

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.

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.

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.

The Urals oil spot price is a crucial indicator of the value of Urals crude oil in the international market. It is influenced by supply and demand dynamics, geopolitical factors, price of competing crude oils, and global economic conditions.

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.

The annual price of Urals crude oil stood at 61.79 U.S. dollars per barrel on average in 2023, having decreased by 16.7 percent from the previous year. Over the observed period, the highest figure was recorded in 2022.

Ecuador Crude Oil: Price: Average: Crude Ural data was reported at 62.470 USD/Barrel in Jun 2019. This records a decrease from the previous number of 71.680 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Crude Ural data is updated monthly, averaging 75.340 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 122.410 USD/Barrel in Mar 2012 and a record low of 29.150 USD/Barrel in Jan 2016. Ecuador Crude Oil: Price: Average: Crude Ural data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

Russia Avg Crude Oil World Price: Period End: Urals (Rdam) data was reported at 51.230 USD/Barrel in Dec 2018. This records a decrease from the previous number of 81.380 USD/Barrel for Sep 2018. Russia Avg Crude Oil World Price: Period End: Urals (Rdam) data is updated quarterly, averaging 67.950 USD/Barrel from Dec 2004 (Median) to Dec 2018, with 57 observations. The data reached an all-time high of 136.130 USD/Barrel in Jun 2008 and a record low of 32.300 USD/Barrel in Dec 2015. Russia Avg Crude Oil World Price: Period End: Urals (Rdam) 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.

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.

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.

Russia Avg Crude Oil World Price: Period Avg: Urals (Med) data was reported at 67.520 USD/Barrel in Dec 2018. This records a decrease from the previous number of 74.440 USD/Barrel for Sep 2018. Russia Avg Crude Oil World Price: Period Avg: Urals (Med) data is updated quarterly, averaging 67.990 USD/Barrel from Dec 2004 (Median) to Dec 2018, with 57 observations. The data reached an all-time high of 117.420 USD/Barrel in Jun 2008 and a record low of 32.670 USD/Barrel in Mar 2016. Russia Avg Crude Oil World Price: Period Avg: 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.

厄瓜多尔 Crude Oil: Price: Average: Crude Ural在2019-06达62.470 USD/Barrel，相较于2019-05的71.680 USD/Barrel有所下降。厄瓜多尔 Crude Oil: Price: Average: Crude Ural数据按月度更新，2010-01至2019-06期间平均值为75.340 USD/Barrel，共114份观测结果。该数据的历史最高值出现于2012-03，达122.410 USD/Barrel，而历史最低值则出现于2016-01，为29.150 USD/Barrel。CEIC提供的厄瓜多尔 Crude Oil: Price: Average: Crude Ural数据处于定期更新的状态，数据来源于Central Bank of Ecuador，数据归类于Global Database的厄瓜多尔 – Table EC.P001: Crude Oil Prices。

Consumer Price Index (CPI): Prev Month=100: Ural Federal District: Non Food: Petroleum Products: Diesel Fuel data was reported at 101.860 Prev Mth=100 in Dec 2024. This records an increase from the previous number of 100.890 Prev Mth=100 for Oct 2024. Consumer Price Index (CPI): Prev Month=100: Ural Federal District: Non Food: Petroleum Products: Diesel Fuel data is updated monthly, averaging 100.140 Prev Mth=100 from Jan 2006 (Median) to Dec 2024, with 227 observations. The data reached an all-time high of 113.000 Prev Mth=100 in Dec 2007 and a record low of 88.880 Prev Mth=100 in Dec 2008. Consumer Price Index (CPI): Prev Month=100: Ural Federal District: Non Food: Petroleum Products: Diesel Fuel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB079: Consumer Price Index: Ural Federal District.

Consumer Price Index (CPI): Prev Month=100: Khanty Mansiysky Area: Non Food: Petroleum Products: Gas Motor Fuel data was reported at 99.040 Prev Mth=100 in Dec 2024. This records a decrease from the previous number of 101.580 Prev Mth=100 for Oct 2024. Consumer Price Index (CPI): Prev Month=100: Khanty Mansiysky Area: Non Food: Petroleum Products: Gas Motor Fuel data is updated monthly, averaging 100.000 Prev Mth=100 from Jan 2014 (Median) to Dec 2024, with 131 observations. The data reached an all-time high of 127.360 Prev Mth=100 in Jun 2020 and a record low of 75.070 Prev Mth=100 in Mar 2022. Consumer Price Index (CPI): Prev Month=100: Khanty Mansiysky Area: Non Food: Petroleum Products: Gas Motor Fuel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB083: Consumer Price Index: Ural Federal District: Tumen Region: Khanty Mansiysky Area.

Consumer Price Index (CPI): Prev Dec=100: Yamalo Nenetsky Area: Non Food: Petroleum Products: Gas Motor Fuel data was reported at 99.030 Prev Dec=100 in Dec 2024. This records a decrease from the previous number of 99.850 Prev Dec=100 for Oct 2024. Consumer Price Index (CPI): Prev Dec=100: Yamalo Nenetsky Area: Non Food: Petroleum Products: Gas Motor Fuel data is updated monthly, averaging 100.000 Prev Dec=100 from Jan 2014 (Median) to Dec 2024, with 131 observations. The data reached an all-time high of 158.990 Prev Dec=100 in Dec 2023 and a record low of 56.420 Prev Dec=100 in Dec 2022. Consumer Price Index (CPI): Prev Dec=100: Yamalo Nenetsky Area: Non Food: Petroleum Products: Gas Motor Fuel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB084: Consumer Price Index: Ural Federal District: Tumen Region: Yamalo Nenetsky Area.

Consumer Price Index (CPI): Prev Dec=100: Sverdlovsk Region: Non Food: Petroleum Products: Gas Motor Fuel data was reported at 121.980 Prev Dec=100 in Dec 2024. This records an increase from the previous number of 121.270 Prev Dec=100 for Oct 2024. Consumer Price Index (CPI): Prev Dec=100: Sverdlovsk Region: Non Food: Petroleum Products: Gas Motor Fuel data is updated monthly, averaging 99.660 Prev Dec=100 from Jan 2014 (Median) to Dec 2024, with 131 observations. The data reached an all-time high of 137.690 Prev Dec=100 in Nov 2018 and a record low of 68.360 Prev Dec=100 in Dec 2022. Consumer Price Index (CPI): Prev Dec=100: Sverdlovsk Region: Non Food: Petroleum Products: Gas Motor Fuel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB081: Consumer Price Index: Ural Federal District: Sverdlovsk Region.

Consumer Price Index (CPI): Prev Month=100: Tumen Region excl Areas: Non Food: Petroleum Products: Gas Motor Fuel data was reported at 99.690 Prev Mth=100 in Dec 2024. This records a decrease from the previous number of 100.390 Prev Mth=100 for Nov 2024. Consumer Price Index (CPI): Prev Month=100: Tumen Region excl Areas: Non Food: Petroleum Products: Gas Motor Fuel data is updated monthly, averaging 99.860 Prev Mth=100 from Jan 2014 (Median) to Dec 2024, with 132 observations. The data reached an all-time high of 120.640 Prev Mth=100 in Aug 2021 and a record low of 88.130 Prev Mth=100 in Jul 2022. Consumer Price Index (CPI): Prev Month=100: Tumen Region excl Areas: Non Food: Petroleum Products: Gas Motor Fuel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB085: Consumer Price Index: Ural Federal District: Tumen Region: Tumen Region excl Areas.

Consumer Price Index (CPI): Prev Month=100: Sverdlovsk Region: Non Food: Petroleum Products: Diesel Fuel data was reported at 100.590 Prev Mth=100 in Jan 2025. This records a decrease from the previous number of 101.890 Prev Mth=100 for Dec 2024. Consumer Price Index (CPI): Prev Month=100: Sverdlovsk Region: Non Food: Petroleum Products: Diesel Fuel data is updated monthly, averaging 100.120 Prev Mth=100 from Jan 2006 (Median) to Jan 2025, with 229 observations. The data reached an all-time high of 113.020 Prev Mth=100 in Dec 2007 and a record low of 87.320 Prev Mth=100 in Dec 2008. Consumer Price Index (CPI): Prev Month=100: Sverdlovsk Region: Non Food: Petroleum Products: Diesel Fuel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB081: Consumer Price Index: Ural Federal District: Sverdlovsk Region.