Average price of Russian oil drops in January

The average price of the Russian Urals export crude oil amounted to $49.48 per barrel in January 2023, the Russian Finance Ministry reported on its Telegram channel on Wednesday.

"The average price of the Urals oil amounted to $49.48 per barrel in January 2023, which is 1.7 times lower than in January 2022 ($85.64 per barrel)," the report said.

Earlier, the ministry said that the average price of the Urals oil equaled $50.47 per barrel in December 2022, and $76.09 per barrel in January-December 2022.