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Urals differentials unreasonably low,argues Putin

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Moscow-Russian President Vladimir Putin views the Urals crude price differential against benchmark Brent as unreasonable and has proposed the possibility of raising the Urals price,a report on the Kremlin website said Aug 15."The difference between Urals and Brent oil prices is not absolutely reasonable,"Putin was quoted as saying to the cabinet of ministers.Putin said there were several possible approaches to the problem.Speaking at the same meeting,economy development and trade minister German Gref said the issue might be discussed this autumn together with possible changes in the country's legislation to introduce a graded oil and gas extraction tax.

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