The price of Rosneft is increasing

The price of russian Urals oil on the world market is approaching the $60 mark. At the same time, as of April 6, the price of Rosneft exports to India, including shipping costs, was more than $73 per barrel.

It is becoming more and more difficult to estimate the actual price of Rosneft – due to russia’s build-up of a shadow fleet and the creation of shell companies around the world, according to data from Argus Media Ltd.

During the past year, the export of russian oil grew rapidly. Most of it went to India and China. However, due to sanctions, russia threatened to reduce the production of raw materials. Tanker tracking data show that russian sea exports have recorded the biggest weekly drop since December.

It will be recalled that last year the G7 countries set a price limit for Rosneft at $60 per barrel. According to Western partners, this helps limit the Kremlin’s profits against the background of the war in Ukraine. Poland, Estonia and Lithuania insisted on “price ceiling” of no higher than $51.45 per barrel.

In February, sea exports of oil products from russia fell by more than 10% , compared to January figures.