Russia's oil export duty to fall by $46.1 in January

Average price of Russia's Urals crude from prices recorded between November 15 to December 14 amounted to $60.47 per barrel, the Russian Finance Ministry reported.

Russia’s oil export duty is expected to fall by $46.1 (around 34%) in January from December to $89 per tonne, as a new tax regime kicks in next year and oil prices decline, the Finance Ministry said, Reuters reported.