Russia May Lower Heavy Oil Export Duty to 10%

Bloomberg reported that according to Kommersant, Russia is likely to decrease the export duty for heavy crude to 10 percent.

As quoted in the market news:

A government commission headed by Deputy Prime Minister Igor Sechin approved the Energy Ministry proposal, which would extend the discount for heavy, or viscous, oils for 10 years from July 1, Kommersant reported, without citing any sources.

Click here to read the full Bloomberg report.