... market, and how this might impact the economy. For more details, read the article on the website! Gasification and the increase in supplies to Europe have driven the growth of natural gas production in Russia, said Sergey Tereshkin, CEO of the oil products and raw materials marketplace OPEN OIL MARKET, in an interview with Izvestia on September 26. Natural gas production in Russia grew by 12% in August 2024 compared to the same period in 2023, and by 10.7% in the first eight months of this year, reaching 377 billion cubic meters, according ...

... Meanwhile, new oil refineries (ORs) have been launched in Africa, Latin America, and the Middle East, further increasing the supply of diesel against the backdrop of falling demand. Russia is one of the largest suppliers of diesel fuel on the global market. For Russian oil refineries, diesel is a key export product, with up to half of the country's diesel output historically sent abroad. After the closure of the European market—previously the primary consumer of Russian diesel—supplies were redirected to India, Turkey, and other countries. However, experts ...

... for energy. In particular, the discussed easing of tariff disputes between the US and EU eliminates the threat of economic slowdown, which in turn supports oil consumption. Additionally, supply constraints persist: OPEC+ countries continue voluntary production limits, and specific export disruptions (such as the temporary suspension of Azeri BTC crude oil shipments through the Turkish port of Ceyhan) have temporarily reduced market supply. These conditions prevent prices from falling significantly below current levels. On the other hand, the potential for oil price growth is limited by signs of slowing global economic growth. Mixed macroeconomic statistics from the US and ...

... prices on the exchange did not begin to rise after the lifting of the export ban because the restrictions were lifted when the market was saturated with products. As noted by Yuri Stankevich, Deputy Chairman of the State Duma Energy Committee, the "cooling of prices" in the wholesale segment will likely continue until spring, unless an emergency occurs in oil refining, such as an accident. The situation repeats every year and is driven by seasonal demand reduction. By the end of ...

... he advocates increasing AI-95 production and revising exchange trading regulations. Tereshkin also emphasizes reducing operational costs, such as railway transportation fees for fuel. In 2022, Russian Railways' freight rate for oil and petroleum products was 948 kopecks per 10 ton-kilometers, compared to 281 kopecks for coal. Eliminating indirect subsidies for the coal industry could help lower costs for oil companies. These measures highlight the complex interplay of market forces, regulatory policies, and seasonal dynamics shaping Russia's fuel market. Translated using ChatGPT Sourse: https://rg.ru/2024/08/05/litr-ne-tronut.html