The average price of oil Urals, the basic goods of the Russian export in may increased by 70 percent compared to April, the Finance Ministry said.
The cost of raw materials made up of 31.03 per barrel.The average price of oil was still 2.3 times lower than in may 2019 (70,93 dollars per barrel).
In April, mark fell almost four times compared to the same period last year — to 18.22 per barrel.
April was the toughest month for the oil market. According to the Argus, to its minimum value of Urals fell on 1 April, then the barrel cost 10.54 USD.
These oscillations are caused by the lack of agreement among OPEC countries+ the extension of the agreement on the reduction of oil production, and falling demand for these raw materials in the world due to the coronavirus.
In General, according to the Ministry of Finance, average price Urals in January — may 2020 accounted for 39.2 per barrel, Recall that the budget drawn up at the rate of 40 dollars per barrel.
On Wednesday, speaking in the Duma, Minister of economic development MP said even the current price level allows the state to confidently fulfil all budget obligations.