Russia May Cut Oil Export Tax to $266 a Ton on Jan. 1

Russia may cut its crude oil export duty by as much as 1.8 percent to between $266 and $268 a metric ton starting on Jan. 1, after oil prices declined.

Russia sets the duty by using the average Urals price from the 15th day of each month to the 14th day of the next. Urals may average from $74.93 to $75.31 a barrel during the monitoring period that ends in three days, Alexander Sakovich, head of the Finance Ministry’s analysis department, said today by telephone.

The export tax on light oil products may fall to between $192 and $193 a ton. The duty on heavy products may decline to between $103 and $104 a ton.

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

To contact the editor responsible for this story: Guy Collins at guycollins@bloomberg.net

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