..., maintaining the same level as in August. In a statement, OPEC announced that the decision is based on "stable prospects for the global economy and current market fundamentals, as reflected in low oil inventories." The Organization of the Petroleum Exporting Countries (OPEC), consisting of 12 member states, formed an alliance with ten other countries, including Russia, in 2016 to reduce oil production, known as OPEC+. This recent increase marks the end of voluntary restrictions of 2.2 million bpd that were agreed upon by several countries in November 2023. In April 2025, the eight countries began a gradual rollback of these restrictions ...

... increase production volumes. Oil Refining and Petrochemicals: TANEKO Complex: The company is allocating significant funds to expand and modernize the TANEKO refining complex, which allows for a deeper processing of oil and the production of high-quality petroleum products. Environmental Projects: Emission Reduction: TATNEFT is implementing programs to minimize its environmental impact, including projects aimed at reducing greenhouse gas emissions and improving waste management systems. Retail Network Development: ...

... analysis in our review. MOSCOW, October 30 - PRIME. A reduction in oil exports from Iran amid the risk of escalating conflict in the Middle East will prevent Brent prices from falling below $70 per barrel in the near future, Sergey Tereshkin, CEO of the petroleum products marketplace "Open Oil Market" (a Skolkovo resident), told RIA Novosti. On Monday, Brent prices dropped by more than 6%, falling below $71 per barrel — levels not seen since early October. By Wednesday afternoon, oil prices were ...

... exceeded the combined revenues from MET on oil and export duties by 73%, amounting to an additional 2.54 trillion rubles. This year marked the completion of the tax maneuver, under which the Ministry of Finance phased out export duties on oil and petroleum products in exchange for a gradual increase in the MET on oil. As a result, the primary determinant of revenues from the oil sector has shifted from the size of the export discount to the actual production volume at the wellhead. Additionally, there ...

... risks, and Lagarde has yet to reveal cards – this has kept the market from premature movements. Oil Market: API Report on US Inventories Late in the evening, at 23:30 MSK, as usual on Tuesdays, the American Petroleum Institute (API) report on oil and petroleum product inventories in the US will be released. While this data does not constitute official government statistics (official figures are published by the EIA on Wednesdays), oil traders closely monitor the API as it provides an early signal. This time,...