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Non-April Fools' joke: Russian oil began to cost 0 rubles per barrel


The export value of oil has ceased to cost anything at all.

The cost of exporting Russian oil has not only ceased to have any value for the companies that produce it, but at the same time, Russian companies have to pay extra for the transportation of petroleum products to countries that export it.

“The estimated price of Russian Urals oil has become negative. Within two days, the cost of delivery to the ports, taxes and other costs exceeded the cost of selling the variety in the ports of Europe. The formal prices for Russian oil, which serve as a guideline for pricing in the domestic market, have become negative, Argus reported. Argus fip quotation (Free in pipe means that the seller must deliver the goods to the pipeline at his own expense) Western Siberia on Monday, March 30, was minus 1 rubles. per ton, and on Tuesday - minus 007 rubles. per ton. According to Argus, suppliers are worried that a long period of low prices will contribute to zero or even negative profitability of oil sales in Russia, the agency said. ” - сообщает RBC.

If the cost of exporting Russian oil continues to decline, then ultimately, Russian companies will have to completely sell petroleum products at a cost of approximately zero.

Given the fact that the cost of Russian Urals oil is in the region of 6500 rubles per ton, then minus export costs, the real income of Russian companies is only in the region of 5300 rubles, which is comparable to the cost of 10-11 dollars per barrel.

Do not confuse speculators futures with real prices for real sales. Learn materiel "correspondents".

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