As Oil Prices Fall, Russia To Slash Crude Export Duties

Russia is set to slash its crude oil export duty by 5.7% for December as the price of its Urals blend drops, Bloomberg reported on Wednesday, citing the Russian Finance Ministry.  The new duty starting in December is reportedly set to the equivalent of $3.37 per barrel or $24.7 per ton, according to Bloomberg.  Last week, Bloomberg cited Argus Media as assessing Russia’s flagship Urals crude blend at $66.19 at the Baltic port of Primorsk, signaling the lowest prices for Urals since late July this year, when Urals topped the G7-imposed…