Russia cuts oil export duty to $156.4 per ton from April 1
Russia has cut the oil export duty by $23.3 to $156.4 per metric ton from April 1, RIA Novosti reports.
A decline in oil prices that began late last year and has continued into 2007 has prompted the government to adjust crude price and economic growth forecasts and cut oil export duties.
The oil export duty is adjusted every two months and is based on Russian Urals oil blend prices on world markets.
The previous crude export duty set February 1 stood at $179.7 per metric ton.