Average Urals price down 34.4% over 2020

The average Urals oil price plummeted by 34.38% year-on-year in 2020 to $41.73 per barrel, the Russian Ministry of Finance said.

"The average price of the Urals oil blend in January - December 2020 evolved as $41.73 per barrel; in January - December 2019 - $63.59 a barrel," TASS cited the statement as saying.

According to the ministry. the average Urals oil price in December 2020 fell 1.3-fold in annual terms to $49.37 a barrel ($64.47 per barrel in December 2019).