Average price of Russia's Urals oil $69.29 in 2007

The average price of Russia's Urals blend oil, a benchmark for the national budget, was $69.29 per barrel in 2007, $8.2 higher than in 2006, a Russian Finance Ministry spokesman said on Saturday.

MOSCOW, December 29 (RIA Novosti) - The average price of Russia's Urals blend oil, a benchmark for the national budget, was $69.29 per barrel in 2007, $8.2 higher than in 2006, a Russian Finance Ministry spokesman said on Saturday.

Alexander Sakovich, a senior tax and duty officer at the ministry, said the figure was $88.07 for December, against $58 in December 2006.

The price was initially set at $61 per barrel in this year's budget.