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According to a RT report on May 6, the Russian Ministry of Finance said on Wednesday that the average benchmark price of domestic Ural crude oil in April was US$62.
According to data from this department, in the first four months of this year, the average price of Russian oil exports was US$60.
Viktor Parno, vice president of business development in Russia, the CIS and the Baltic States, said that the current increase in Russian oil prices is also due to the special structure of the world's petroleum products.
From time to time in the market situation, medium and heavy grades are more popular than light grades.
Wang Jiajing excerpted and translated from RT
The original text is as follows:
High global demand sends Russian Urals crude oil price soaring
Russia's Ministry of Finance said on Wednesday that the average price for domestic Urals oil benchmark stood at $62.
According to the ministry, in the first four months of the year the average price for the Russian export oil brand was $60.
Experts say that the price rise was primarily due to the recovery of global demand for fuel and the fulfillment of the terms of the OPEC+ deal.
The current rise in the price of Russian oil is also due to the peculiarities of its composition, says Viktor Parno, vice president for business development in Russia, CIS and Baltic States.
“From time to time, the market situation develops in such a way that medium-heavy varieties become more popular than light ones.
According to him, Japan are also among the major buyers of Russian oil.
