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).
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“Courage, determination, and hard work are all very nice, but not so nice as an oil well in the back yard.”
—Mason Cooley (b. 1927)