Russia to Reduce Crude Oil Export Tariff from April

According to the Ministry of Finance of Russia, the crude oil export tariff will be reduced to $111.4/mt from April 1, 2018. At present, the crude oil export tariff in Russia is $119.5/mt. The average price of Urals crude oil was $62.54/bbl ($456.6/mt) from February 15 to March 14. The export tariff of high-viscosity crude oil will drop to $17.9/mt.