Russia Will Cut Oil Export Duty in April

"The average Urals blend price in the monitoring period from February 15 to March 9 was $41.92 per barrel," Alexander Sakovich, a Finance Ministry official said. "Considering the current market trends, the average price this month is expected be $41.54-$42.54 per barrel and in this case export duty will be set at $108-$112 from April 1," he said.

As of April 1, the duty on light petroleum products will drop to $85-88 per metric ton from the current $90 per ton and on heavy petroleum products to $46-47.5 per metric ton from $48.5 per ton, Sakovich said.

Source: RIA Novosti

Author: Ksenia Kochneva