Oil production

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The cost of Russian oil collapsed to a historic low - it is 4 times cheaper than water


Russian oil has totally depreciated.

The cost of Russian oil has plummeted, reaching $ 13 per barrel of Urals oil. Thus, the cost of one liter of Russian oil is only 6 rubles, while the cost of the same drinking water averages 24-26 rubles.

“The Urals price updated on Monday another anti-record following the cheapening of the standard. The price of the Russian variety in Northwest Europe (NWE) in absolute terms fell another $ 3,20 / bbl. compared with Friday, to the lowest level since March 1999 - $ 13 / bbl. (cif Rotterdam). The discount for Urals relative to the North Sea dated remained the same - $ 4,75 / bbl. (cif Rotterdam). This is the maximum discount value since June 2008. The cost of Urals consignments of 80 thousand tons each in the Mediterranean in absolute terms decreased on Monday by $ 3,20 per barrel. compared with Friday, to the minimum since June 1999 - $ 15,25 / bbl. (cif Augusta). The discount for this grade relative to the standard also has not changed - $ 2,50 / barrel. (cif Augusta). The discount on Russian oil remains at the highest level since May 2018. "- сообщает "Argus Media".

The Russian ruble has not yet responded to the colossal drop in the cost of Russian oil, however, Saudi Arabia unexpectedly announced that it is ready to start an oil war with Russia, which does not exclude the possibility that the price of Russian oil will continue to fall, and this threatens with serious shocks for the Russian ruble and the Russian economy as a whole.

And what got into the mud?

Cold War Traditions!

Let's buy 6 rubles each and distill them into gasoline with moonshine. Where do they sell them?

The economy of the USSR rested on stably low energy prices ...

This futures contracts are devaluated by speculators, real oil as it was going so is on real contracts in real time at real prices.

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