Russia's Urals oil average price increases 5.3 percent over 2013
Prices for Russia's key export, however, fell 1.1 percent over the previous month in May to average $107.70 per barrel, Oil & Gas Eurasia reports.
The average price of Urals brand oil during the period of January to May fell 0.27 percent year-on-year to $106.95 per barrel.
Last year, the average price of Urals oil amounted to $107.88 per barrel. The Ministry of Economic Development estimates the 2014 average price will be $104 per barrel, according to Oil & Gas Eurasia.
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