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It is about relative price, that is, relative to oil price of other countries, based on the USD as the unit, which is standard terminology in the oil market. The title would more properly be, why is Russian oil more expensive?
3 comments:
Expensive in what currency?
It is about relative price, that is, relative to oil price of other countries, based on the USD as the unit, which is standard terminology in the oil market. The title would more properly be, why is Russian oil more expensive?
Transportation cost.
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