66 Days
Source:
الاقتصادية
Russian oil price returns to pre-Iran war levels
The Urals crude oil price, the benchmark Russian grade, has declined to approach pre-Middle East conflict levels, with an average of $41.66 per barrel in early July. This is down from its peak in April, which exceeded $59. Despite falling prices, Russia's exports have reached record levels. The decline in crude prices has placed pressure on Russia's finances, which heavily rely on oil and gas revenues to fund about one-fifth of its budget. The fiscal deficit has increased to 6 trillion rubles, surpassing the target, and budget revenues have been affected by the price decline.
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