Urals oil is a reference oil brand used as a basis for pricing for the Russian export oil mixture. It is a mix of heavy, high-oil of Urals and the Volga region with light oil of Western Siberia. Other reference oils are Brent, West Texas Intermediate and Dubai.
Urals brand oil is supplied through Novorossiysk pipeline system and the Druzhba pipeline. In Russia, oil futures class Urals trade on the stock exchange Russian Trading System. At NYMEX it is known under the name of REBCO (Russian Export Blend Crude Oil).
Famous quotes containing the word oil:
“As a rule they will refuse even to sample a foreign dish, they regard such things as garlic and olive oil with disgust, life is unliveable to them unless they have tea and puddings.”
—George Orwell (1903–1950)