Oct. 30 (Bloomberg) -- Russia’s government will cut the export duty on crude oil by 3.9 percent on Nov. 1, according to an order signed by Russian Prime Minister Vladimir Putin.

The levy will decrease to $231.20 a metric ton, or $31.54 a barrel, from $240.70 a ton the previous month under the order, which was published today in the official Rossiyskaya Gazeta newspaper.

The duty on heavy oil products will be reduced to $90.50 a ton and light products to $168.10 a ton, the newspaper said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

Last Updated: October 30, 2009 02:32 EDT