Russia's Urals crude oil blend traded at an average of $72.84 per barrel in November, down from October but still above the price cap set by the EU, G7 countries, and Australia. Despite efforts to curb Russia's oil sales, Urals has consistently traded above the $60 per barrel cap since July. The Russian state budget is based on an average Urals price of $70.1 per barrel for 2023. The average price of the international benchmark blend, Brent, was $83.12 in November, widening the Urals discount to around $10.28 per barrel.

SOURCE:GOOGLE