... mechanism, currently being discussed by the government, are intended to support oil companies but may lead to a slight increase in exchange prices. This opinion was expressed in an interview with RG by Sergey Tereshkin, General Director of the OPEN OIL MARKET marketplace for petroleum products and raw materials. According to him, the division of the damping mechanism in practice will stimulate the growth of exchange prices: oil companies will be able to increase their margin by inflating the exchange prices for one type of fuel while ...

... recent interest rate change). 16:45 (Canada): S&P Global services and Composite PMI indices (July). Late data on the Canadian economy will provide additional insight into the North American services sector. 17:30 (USA): Official EIA report on oil and petroleum product inventories for the week. Closely monitored by the commodities market, it may trigger fluctuations in oil prices. 19:00 (Russia): Consumer Price Index (CPI) for July. Monthly inflation data in Russia—acceleration or deceleration will affect expectations for further actions from the Central Bank and the ruble's ...

... exchange). Another factor behind rising exchange prices is unplanned refinery repairs due to drone attacks, according to Reuters. Reports indicate that the Novokuybishevsk refinery has been shut down since the beginning of August, and the output of petroleum products from the Ryazan refinery has been cut by half. The market could indeed respond to news about reduced gasoline shipments, but it is unlikely to reflect a tangible decline in supplies in such a short timeframe. In 2024, Novokuybishevsk refinery produced around 1.1 million tons of gasoline, while Ryazan ...

... problem but only "alleviates the symptoms" for a short time. According to Sergey Tereshkin, CEO of the OPEN OIL MARKET petroleum marketplace, export restrictions could indeed increase the supply of gasoline in the domestic market. In recent years, exports have accounted for 12-15 percent of supplies from Russian refineries. The problem is that this measure only works over a short period. In the long term, oil producers will adjust gasoline production to match domestic market demand, thereby reducing oil processing and freeing up raw materials for export. As noted ...

... for Russia and Saudi Arabia alone will increase by a total of another 1.1 million barrels per day. Additionally, the oil market has almost completely absorbed the "post-COVID" recovery in demand, which is why the dynamics of final consumption ... ... vehicles, a surge in demand for polymers due to urbanization in South and East Asian countries, and increased competition between petroleum products and liquefied natural gas (LNG) in maritime transport. These factors will ensure a more modest increase in demand for ...