The cost of Russian Urals oil has fallen below the price ceiling set by the West.

The day before, the cost of Russian Urals oil fell below $38 per barrel. This is well below the limit set by Western countries in the form of a price ceiling for Russian oil. According to Bloomberg, in the port of Primorsk, Urals oil was $37,8 per barrel, while Brent oil was $78,57 per barrel.

The sharp drop in the cost of Russian oil, according to Bloomberg, is due to the fact that oil at this price is supposed to be sold to the largest Russian partners, including India and China. Selling oil at a low cost may be an attempt to compete with cheaper oil from the Middle East, however, there are no official statements in this regard.

In fact, the cost of Urals oil sold in the port of Primorsk is the lowest since November 2020. At the same time, experts believe that over the coming months, the cost of Russian brand oil may fall even more, which, for obvious reasons, is very unacceptable.