Russia Oil Prices Hit Lowest Since War Began on Western Pressure
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Russian crude prices are at their lowest since the war in Ukraine began, as sanctions deepen the discounts the nation’s oil industry needs to offer and benchmark futures tumble. On average, Russian oil exporters are receiving just over $40 a barrel for cargoes shipped from the Baltic, Black Sea and the eastern port of Kozmino, according to data from Argus Media. That’s down 28% over the last three months, with recent restrictions targeting oil giants Rosneft PJSC and Lukoil PJSC widening the markdowns.