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Monday, November 2, 2020
Why Is Russian Oil So Expensive? — Viktor Katona
Detailed account. This is apparently affecting the exchange rate. USD/RUB is over 80.
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?
Expensive in what currency?
ReplyDeleteIt 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?
ReplyDeleteTransportation cost.
ReplyDelete