United Nations Sustainable Development Goals
The average price of Urals grade oil as per the 2018 year end results was slightly more than 70.2 USD/ bbl. Apart from the extension of the OPEC+ deal, price stabilization and growth in 2018 were worsened by the political situation in a number of oil exporting countries and the strengthening of the sanctions pressure. Due to the measures taken by OPEC, the Brent grade oil price remained at the level of above 70 USD/bbl for most of the year. In Q4, it exceeded 84 USD/bbl. In 2018, the oil supply surplus on the world market was partially mitigated owing to the collective efforts of the countries participating in the OPEC+ production restriction deal. However, significant growth of oil price caused production intensification and resulted in price