Urals price rises almost 40%

Urals price rises almost 40%

Average price of Russia’s Urals oil rose 39% to $69.43 per barrel in January-July, 2018 compared to the same period last year, the country's finance ministry said.

It was reported that in July 2018 the price was $72.87 per barrel.

Earlier, the Russian Energy Minister Alexander Novak said Russia would further raise production to 555 million tonnes in 2019 after the Organization of the Petroleum Exporting Countries and other oil producers led by Russia agreed last month to ease production curbs.

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