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Russian oil and gas export situation
[Twitter] Even worse for Russia is the oil market. Ural Crude oil is at 50 USD/Barrel. Remember, India and China get huge discounts, so the price is even lower than that.The natural gas prices continue to drop and now they have a reached a level lower than any time in 2022. Last time when the price was below 68 EUR/MWh was in October 2021. Latest quote is $48.99 for Urals Crude. $30 below Euro/Mideast and $25 below US crude quotes. 2021 Russian federal budget breakeven was estimated at $69/bbl. At current oil and gas prices, reduced volumes (esp nat gas) from 2021 and greatly increased military spending, Russia is running a ferocious budget deficit w/o prospects for borrowing when their banked surplus, much of it frozen in the west, runs low. Posted by: Waldemar the Limber5043 2023-01-08 |
| http://www.rantburg.com/poparticle.php?ID=654844 |