Duty on Russian oil exports could rise by about $21.5 to reach $271.8 per metric ton as of December 1, in keeping with world market trends, a Finance Ministry official said on Monday.

The Russian government adjusts export duty on crude and petroleum products every two months, depending on changes in the Urals blend price on world markets.

"The average oil price monitored from September to October 28 was $76.14 per barrel. Therefore, oil export duty could be set at $271.8 per metric ton," said Alexander Sakovich, deputy head of the ministry`s customs department. Crude export duty was $250.3 per ton from October 1.

The new figure will be the highest for the entire period of export duty reviews, Sakovich said.
sections: Economics