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/RUSSIA: Moscow Considers Replacing Urals Oil In Its Macro Forecasts With Another Indicator

OIL

The Russian government is discussing abandoning the use of the expected price of Urals oil in its macroeconomic forecasts and replacing it with another indicator, sources told Vedomosti.

  • "According to one of them, firstly, the cost of Urals in the current situation varies significantly from contract to contract and from supplier to supplier, so the forecast, including budget revenues, formed in relation to the price of the Russian brand, may be significantly distorted."
  • "Secondly, news agencies that provided the government with information on Urals prices - Argus and S&P Global Platts - practically stopped registering transactions and supplying data due to sanctions, the source said."
  • Vedomosti reports that the authorities are considering various alternatives, including the price of Brent crude oil.
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The Russian government is discussing abandoning the use of the expected price of Urals oil in its macroeconomic forecasts and replacing it with another indicator, sources told Vedomosti.

  • "According to one of them, firstly, the cost of Urals in the current situation varies significantly from contract to contract and from supplier to supplier, so the forecast, including budget revenues, formed in relation to the price of the Russian brand, may be significantly distorted."
  • "Secondly, news agencies that provided the government with information on Urals prices - Argus and S&P Global Platts - practically stopped registering transactions and supplying data due to sanctions, the source said."
  • Vedomosti reports that the authorities are considering various alternatives, including the price of Brent crude oil.