MOSCOW, March 10 (RIA Novosti) - Russia will cut its
oil export duty from the current $115 to $108-$112 per metric
ton from April 1, a Finance Ministry official said on Tuesday.
"The average Urals blend price in the monitoring period
from February 15 to March 9 was $41.92 per barrel," Alexander
Sakovich said. "Considering the current [market] trends, the
average price this month is expected be $41.54-$42.54 per
barrel, and in this case export duty will be set at $108-$112
from April 1," he said.
The ministry switched from December 1 to setting export
duties on oil and derivatives on a monthly basis to respond
more swiftly to changes in world oil prices against the
backdrop of the global financial crisis.