02:00 GMT06 August 2020
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    The duty on oil exports from Russia has increased by $11.9, rising up to $91.9 per tonne (metric ton) as of Saturday, from $80 per tonne in September, data from the Russian Ministry of Economic Development shows.

    MOSCOW (Sputnik) – The export duty on high-viscosity oil went up to $11.1 per tonne from $9.5 per tonne in September.

    According to the Russian Economy Ministry, the average Urals oil price for the period of August 15 — September 14 of the current year was $45.48 per barrel, or $332 per tonne.

    Global oversupply and stagnating demand have caused oil prices to plunge from $115 per barrel in June 2014 to less than $30 per barrel in January 2016. Prices recovered amid Nigerian, Canadian and Venezuelan output outages and growing demand in May, reaching a peak of over $50 per barrel in early June.

    Crude prices are currently fluctuating between $40 and $50 per barrel.


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