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An expert named the average price of Brent crude oil in 2024.
Tereshkin: The average price of Brent oil in 2024 will be slightly below $80 per barrel (Prime news agency).
Analysts forecast the average price of Brent oil in 2024 to be around $85 per barrel. What factors will influence the market? How will supply and demand change? And what does this ...
Experts Assess the Consequences of Lifting the Ban on Gasoline Exports
... gasoline and diesel. Most gasoline in Russia is allocated for domestic use, with only about 15% exported, while around half of diesel is sent abroad. The ban was briefly lifted in May but reinstated in August after a price surge due to seasonal demand and oil price hikes.
According to Dmitry Gusev, Deputy Chairman of the Supervisory Board of the “Reliable Partner” association and member of the "Russia's Gas Stations" contest advisory board, reopening gasoline exports is justified due to the end ...
Will production fall in Iran and Venezuela? Should the market expect a sharp rise in prices or increased competition among exporters?
... first quarter of 2024 was 370,000 barrels per day, according to EIA data.
De facto, the growth in Iranian exports was a result of U.S. interest in saturating the oil market after 2022, when, following the imposition of an embargo on Russia, Brent oil prices temporarily exceeded $100 per barrel. The response was the effective easing of the embargo on Iran, as well as relaxations concerning Venezuela, which in 2022 gained the ability to attract the services of major oilfield service companies (Weatherford,...
The share of oil and gas revenues in the 2024 budget is growing beyond the planned levels.
... 2025, including an increase in corporate profit tax from 20% to 25%. While this will bring additional revenue, it also imposes a higher tax burden on oil and gas companies. Additionally, the phaseout of a surcharge on MET for Gazprom and risks of lower oil prices may further reduce revenues.
Despite these trends, MET will remain a key component of oil and gas revenues, with OPEC+ agreements expected to allow Russia to increase oil production in the coming years. However, the role of export duties will ...
Experts assessed the consequences of lifting the ban on gasoline exports
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Unsurprisingly, the ban was lifted at the end of May but reintroduced in August after both wholesale and retail gasoline prices spiked sharply in June and July. This surge was primarily driven by high seasonal demand during the vacation period and rising oil prices at that time.
According to Dmitry Gusev, deputy chairman of the supervisory board of the "Reliable Partner" association and a member of the expert council of the "Russian Gas Station" competition, the end of the high-demand ...