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 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.

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.

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 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 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 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.

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.

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 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.

Crude oil prices greatly influence energy costs, transportation expenses, and inflation rates. This article discusses the different types of crude oil prices, including Brent Crude, WTI, OPEC Basket, Dubai Crude, and Urals Crude, and highlights the factors that influence their pricing. Understanding and monitoring these prices is crucial for businesses, governments, and individuals as they have significant implications on the global economy, energy markets, and financial stability.

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.

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。

Avg Crude Oil World Price: Period Avg: Urals (Rdam)在2018-12达67.080 USD/Barrel，相较于2018-09的74.090 USD/Barrel有所下降。Avg Crude Oil World Price: Period Avg: Urals (Rdam)数据按季度更新，2004-12至2018-12期间平均值为67.940 USD/Barrel，共57份观测结果。该数据的历史最高值出现于2008-06，达117.650 USD/Barrel，而历史最低值则出现于2016-03，为31.600 USD/Barrel。CEIC提供的Avg Crude Oil World Price: Period Avg: Urals (Rdam)数据处于定期更新的状态，数据来源于Central Dispatching Department of Fuel and Energy Complex，数据归类于Russia Premium Database的Energy Sector – Table RU.RBL021: CDU TEK: Average Crude Oil World Price: by Type: Quarterly。

Avg Producer Price: Residual Fuel Oil: Ural Federal District data was reported at 6,320.750 RUB/Ton in May 2018. This stayed constant from the previous number of 6,320.750 RUB/Ton for Apr 2018. Avg Producer Price: Residual Fuel Oil: Ural Federal District data is updated monthly, averaging 6,470.000 RUB/Ton from Jan 2017 (Median) to May 2018, with 17 observations. The data reached an all-time high of 6,571.380 RUB/Ton in Apr 2017 and a record low of 6,320.750 RUB/Ton in May 2018. Avg Producer Price: Residual Fuel Oil: Ural Federal District data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Energy Sector – Table RU.RBL010: Average Producer Price: by Federal District: Fuel.

In December 2024, the inflation rate in Russia stood at around 9.5 percent compared to the same month in the previous year, showing an increase. The rate has been rising since October 2024. The highest rate during the observed period was recorded in April 2022, at 17.8 percent. The term inflation means the devaluation of money caused by a permanent increase in the price level for products (consumer goods, investment goods). The Consumer Price Index (CPI) shows the price development for private expenses and shows the current level of inflation when increasing. Russia's economy, an outlook The Russian economy was expected to grow by 1.6 percent in 2025 despite the Western sanctions over the war in Ukraine that began in February 2022. At the same time, consumer prices were projected to grow by around five percent in 2025 relative to the previous year. In 2024, the inflation rate was estimated at 7.9 percent. Prices in Russia Russia’s economy is highly dependent on and affected by the price of oil. The price of the Urals crude oil stood at approximately 62 U.S. dollars per barrel in December 2024, having demonstrated an increase from the previous month. The highest producer price index (PPI) was recorded in the electricity and gas supply sector, with a price growth rate of over 12 percent in September 2024.

The export trade of the European Union experienced some notable shifts over the two decades since 2002, with China emerging as a significant export market and the United Kingdom losing its place as the EU's single largest export partner. The United Kingdom's declining share of EU exports The UK, which was a member of the European Union until 2020, declined in its importance as an export market for EU producers over this period. Representing over a fifth of the export trade in 2002, the UK now takes only 13 percent of EU exports, and looks likely to be eclipsed by China's growing share in the coming years. The complications to EU-UK trade caused by the UK's exit agreement with the EU is also likely to contribute to slowing trade flows between the two partners. China's emergence as a key export market As with most other areas of the global economy, the past two decades has largely been the story of China's emergence as a key trading partner. China's share of EU exports was comparable to Japan or Norway at the beginning of the period, while it now represents the EU's third largest export market. While this is a significant change, China takes up a much larger share of imports into the EU, where it is the largest single trading partner. As Chinese incomes rise in the coming decades, the significance of China as an export market for EU producers is likely to rise, geopolitical tension notwithstanding. The Euro and exports to the U.S. The EU's export trade with the United States over this period experienced a relative decline in the period running up to 2014, as the Euro appreciated in its value against the U.S. dollar, making European exports more expensive for Americans. This declining share of the EU's export trade taken by the U.S. was reversed in the latter half of the 2010s however, as the Euro depreciated and European exports to the U.S. increased. Issues with Russia Another notable trend over the period was Russia's emergence as a key export market in the mid-2000s, as the Russian economy grew quickly and Russian consumers began to demand EU made products. Russia declined as a market for EU exports after 2014, as trade was complicated by Russia's illegal annexation of Crimea from Ukraine, and the subsequent devaluation of the Ruble and collapse in the price of Ural crude oil.