Tereshkin: Reducing fuel excise taxes in Russia could help increase the profitability of production (Prime). Reducing excise taxes on fuel could boost the profitability of production and sales of petroleum products, as well as stop the rising prices. Sergey Tereshkin, the CEO of the fuel marketplace "Open Oil Market," pointed out that excise tax rates have increased significantly in recent years, which negatively affects the industry. He also suggested that the ban on gasoline exports could be lifted in November, provided retail prices are kept under ...

...," the expert concluded. REFERENCE: The current oil price ceiling has been in place since December 2022. In February 2023, a price cap of $100 per barrel was introduced for light oil products (diesel fuel, gasoline) and $45 per barrel for dark products (fuel oil). It was supposed that the functioning of the mechanism would be evaluated every two months, based on market conditions and that the ceiling would be set at a discount of -5% from the average market price for Russian oil and oil products, calculated based on data from the International Energy Agency. Additionally, after each change in the ceiling price,...

... surfaced, and demand could rise sharply. Naturally, everyone rushed to stock up, creating increased demand. As a result, stock market prices began to rise. Gusev also believes that last week's price increase will not affect the government's decision to lift the export ban. Gasoline exports from Russia account for no more than 15% of total production, the peak demand season in the country is over, and large oil companies have requested the opening of exports, the expert notes. Regarding the latter, Tereshkin adds that oil companies ...

... indicator for the entire Eurozone. A rise in CPI could increase expectations for tighter monetary policy from the European Central Bank, while weaker numbers may justify continued caution. 15:00 (MSK): 189th OPEC Conference This major event for the oil market will see discussions on production quotas among member nations. The outcome could significantly impact global oil prices, with implications for energy markets worldwide. 20:00 (MSK): USA – WASDE Report The U.S. Department of Agriculture’s World Agricultural Supply and Demand ...

Discussing how the USA plans to capture up to 70% of the European energy market and what it means for Europe and global energy dynamics. The United States aims ... ... American energy resources for European consumers increases sharply, particularly for oil, which is estimated to need to rise to at least $120 per barrel. However, in the... ....S. shares in LNG imports reached 45.3% (€18.8 billion), while oils and petroleum products accounted for 16.1% (€42 billion). This suggests the ambition of the U.S...