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Russia’s Oil Exports Hit Record Highs, but Revenues Shrink as Urals Prices Plummet
Oil Exports and Financial Struggles Russia is shipping more crude oil than ever before, yet earnings from these sales are declining due to a sharp drop in the price of its flagship Urals grade. In early July, Urals crude was trading at $40–$41.5 per barrel—well below the $59 per barrel benchmark tha...
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