OREANDA-NEWS. On February 11, 2008 as announced by EconMin, average price of Russia ’s Urals blend oil in 2007 stood at USD 69,3 per barrel, which is 13,4% higher than in 2006.

In late January, EconMin revised its Urals blend oil price forecast for 2008 from USD 53 to USD 74 per barrel. Urals oil price in 2009 and 2010 is expected at USD 66 and USD 62 per barrel, respectively.

To remind, government raised crude oil export duty to all-time high of USD 274.4 per ton as of Dec 1 2007 , due to continuing growth in world oil prices.