The FINANCIAL — According to RIA Novosti, the average price of the benchmark Urals oil blend stood at $47.05 per barrel in Russia in January-May 2009 against $100.78 in the first five months of 2008, a Finance Ministry official said on June 1.
"The Russian oil price was $56.94 per barrel in May 2009 against $118.75 per barrel last May," said Alexander Sakovich, deputy director of the ministry's customs department.
Russia increased oil export duty to $152.8 from the current $137.7 per metric ton from June 1, in line with trends on global oil markets.
The Organization of Petroleum Exporting Countries left unchanged its oil production quotas at 24.8 million barrels of oil daily at a meeting in Vienna on Thursday amid climbing oil prices on the global market. On May 28, the global oil price reached $63.67 per barrel.
The Russian government's amended budget for 2009 is based on an oil price of $41 per barrel.
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