Free Trial

Russia Eyes Change to Dubai Benchmark From Brent

OIL

Russia may change its oil benchmark from Brent to Dubai to reduce the discount and collect more taxes according to Vedomosti, citing Deputy Finance Minister Alexei Sazanov.

  • The Russian Finance Ministry is waiting for proposals from oil companies or the Energy Ministry to discuss the issue in autumn according to Vedomosti.
  • The Ministry is also considering reducing the discount of Urals to Brent to $20/bbl, from $25/bbl previously.
  • Russian President Vladimir Putin said earlier this month the discount of Russian Urals to Brent has been narrowing.
  • Kpler puts the Urals blend discount to Brent at $9-10/bbl currently.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.