MOSCOW, April 1 (RIA Novosti) - Russia has cut the oil export duty by $23.3 to $156.4 per metric ton from April 1.
A decline in oil prices that began late last year and has continued into 2007 has prompted the government to adjust crude price and economic growth forecasts and cut oil export duties.
The oil export duty is adjusted every two months and is based on Russian Urals oil blend prices on world markets.
The previous crude export duty set February 1 stood at $179.7 per metric ton.
The Finance Ministry earlier said the oil price forecast for 2007 had been reduced from $61 to $55 per barrel, and the forecasts would also be reduced from $56 to $53 per barrel in 2008, and from $52 to $50 in 2009.
