Russia to Lower Crude Export Tax 4.5% in April After Urals Falls
This article is for subscribers only.
Russia, the world’s biggest energy exporter, will reduce duties on most crude and oil product shipments overseas by 4.5 percent on April 1, down from a 10-month high, after a drop in benchmark Urals prices.
Standard export duty will decline to $401.50 a metric ton, or about $54.77 a barrel, from $420.60 a ton this month, according to an order published on a government website today. The March tariff was the highest since May 2012.