According to Bloomberg citing Argus pricing agency data, Urals oil dropped in price to $43.72 per barrel.
When Argus Investment Management first sent the shares down in order to limit losses, analysts saw that as a signal for investors to cash out regardless of price.
Due to sanctions and previous self-restraints by European refiners, not price caps.
The countries in the G7, the European Union, and Australia have previously agreed on a ceiling to prices for sea-supplied oil by Russia at $60 per barrel.
Instead of deciding on oil production based on the result of the first quarter after a price ceiling is introduced, Alexei Sazanov said that decisions should be made based on the results of the first quarter before it.