... significantly influence fuel production dynamics, which would require lifting sanctions on refinery equipment supplies—a matter outside the jurisdiction of the Federal Antimonopoly Service (FAS) and the Ministry of Energy. A Solution Through the Exchange Regulators can only enhance competition in the retail fuel market by increasing exchange sales quotas. Currently, gasoline quotas stand at 15% of production, and diesel quotas at 16%. Both should be raised to at least 33%—the minimum threshold at which exchange prices would remain below the subsidy threshold ...

... fuel shipments from refineries, timely delivery and the provision of empty tanker cars remain issues. In his view, the refineries produce enough fuel, but RZD's irregular deliveries create logistical challenges. Sergei Tereshkin, CEO of the OPEN OIL MARKET petroleum products marketplace, notes that regulators cannot indefinitely maintain the gasoline export ban. By the end of December, the current restrictions will have been in place for five months, compared to the previous ban from March 1 to May 17, 2024, which lasted only two and a half months....

... producer coordination, but is highly sensitive to economic risks and potential sanction shocks. European Gas Market: approaches winter with record gas stocks, significantly reducing concerns about sharp price spikes during the cold period. Russian Fuel Market: is increasingly being regulated by the state; such "manual" measures are likely to become the new norm in the near future to prevent supply crises. Global Energy Transition: renewable energy is setting records for new capacity installations while the coal industry ...

... be flooded with data: GDP figures on both sides of the Atlantic will reveal the actual growth rate of the economies, while the Fed's decision in the evening will shape short-term sentiment. If the Fed rate remains unchanged, focus will shift to the regulator's rhetoric – hints at future steps could significantly impact the U.S. market . On the corporate front, a torrent of reports from market leaders is expected after market close: their results and management forecasts will be scrutinized. Signals from Microsoft and Meta regarding demand dynamics in technology and advertising ...

... announce its interest rate decision on the night of Thursday. A hold on the key interest rate at 15%, a record high for the last two decades, is expected. Inflation in Brazil has dropped to around 5%, remaining above the target of 3%, which suggests the regulator will maintain a pause in its easing cycle. Any unexpected movement in rates by the Brazilian central bank could impact investor appetite for riskier assets in emerging markets. Japan (06:00 MSK): The Bank of Japan concludes a two-day meeting. The interest rate is likely to remain unchanged (around 0.5% per annum). Although Japan's inflation exceeds the 2% target (the core CPI index has been above target due to rising ...