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Urals 2022 Forecast at $80/bbl


The Russian Ministry of Economic Development forecast the price of Urals oil in 2022 at $80 per barrel, falling in 2023 to $70.1 per barrel.

  • "The price level for Russian oil in 2023 is estimated at $70 per barrel, by 2025 it will moderately drop to $65 per barrel,’ the Economic Development Ministry said.
  • The average price of Urals oil for eight months of 2022 increased by 26% to $82.13 per barrel. At the same time, the average price in August was $74.73 per barrel, which is 10% higher than in August 2021 ($68 per barrel).

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