... volumes. Despite the established rise in exchange prices, gasoline exports were allowed for another month in June — until July. Thus, the current fuel market regulation model relies on three parameters, according to Sergey Tereshkin, CEO of the oil products and raw materials marketplace Open Oil Market. These include the damping mechanism, which sets limits on exchange price growth for diesel fuel and AI-92 gasoline; actual price growth rates for gasoline and diesel, which must not exceed general inflation rates; and export bans, which take effect ...

... 2022-2023 against the backdrop of sanctions on Russia and a series of conflicts in the Middle East," added Tereshkin. However, despite the embargo, Iran is already steadily increasing its oil production and exports, said the CEO of "Open Oil Market." In 2023, oil production stood at 2.87 million barrels per day, and by the first half of this year, it had reached 3.25 million barrels per day. "For comparison: a year before the introduction of the U.S. embargo in 2018-2019, production was 3.82 million barrels ...

... supplies gas to Turkey and Southern European countries, while Gazprom is investing in increasing capacity and expanding connections to regional gas transportation networks. Baltic Pipeline System 2 (BPS-2): This project is aimed at transporting oil and oil products to northwestern export markets via the Baltic Sea. Investments are focused on upgrading pumping stations and building oil storage tanks. 3. LNG processing and production Gazprom is actively developing the production of liquefied natural gas (LNG) to expand export opportunities ...

... demand will reach 108 million barrels per day due to increased consumption in Asia, especially in China and India. Oil consumption in developed countries (USA, Japan, EU countries) will remain stable. Sergey Tereshkin, founder and CEO of the oil products marketplace OPEN OIL MARKET: According to the forecast by the U.S. Energy Information Administration (EIA), oil production in the U.S. is expected to increase from 12.9 million bpd in 2023 to 13.2 million bpd in 2024, and 13.5 million bpd in 2025. This is a realistic forecast,...

... announcements, and U.S. consumer confidence indicators. Russian traders will keep an eye on domestic inflation and industrial production data, while U.S. traders track CPI, oil inventories, and the USDA’s agricultural report. Stay tuned for impactful shifts across currencies, commodities, and stocks, as global events unfold! Weekly Economic Events Influencing Global and Russian Markets (November 11–15, 2024) Monday, November 11 U.S. — Veterans Day (Public Holiday) China — Singles’ Day (Largest ...