... will continue to tighten regardless of the U.S. administration. The U.S.’s strategic goal is to push Russia out of the hydrocarbons market, though this is currently impossible and risky, even for America. The focus remains on reducing Russian oil prices and increasing transportation and trade costs for Russian companies. Limiting physical export volumes (e.g., to no more than 3 million barrels per day) is impractical due to the real-time tracking required. As for Russian budget revenues, Sergey Tereshkin,...

... a vital role in maintaining market stability, and the decision to keep production restrictions could support oil prices, particularly if demand exceeds expectations. This steady supply outlook serves as a potential foundation for stable or slightly increased prices, which can benefit energy investments in North America and Europe. Production Trends in Russia and OPEC+ Russia slightly increased production in October by 50,000 barrels per day, reaching 9.2 million barrels, which is 230,000 barrels above its ...

... Novosti. The Ministry of Energy and the Ministry of Finance will work on existing and additional measures to maintain the profitability of oil refining, said Pavel Sorokin, first deputy minister of energy, on Wednesday. "To stop the rise in prices, not only prohibitions are needed, but also measures that would allow for an increase in the profitability of production and sale of petroleum products. This includes, in particular, reducing excise taxes, which have significantly increased in recent years. In 2015, the excise tax on 5th-grade gasoline was 5,530 rubles per ton,...

... Output is projected to rise from 13.2 million barrels per day in the second quarter to 13.5 million barrels per day in the fourth quarter of 2024, driven by high prices that sustain profitability for shale projects. Tereshkin notes that despite the increased supply, oil prices are expected to remain stable at around $80 per barrel until the end of 2024, with a potential price decline anticipated in early 2025. According to the U.S. Energy Information Administration (EIA), in the second quarter of 2024, the gap between ...

Tereshkin: The Recovery of the Russian Auto Market Pressures Fuel Prices The article discusses the opinion of Sergey Tereshkin, CEO of the fuel marketplace "Open Oil Market," on how the recovery of the Russian automotive market is driving fuel price increases. According to him, rising demand for automobiles and seasonal factors contribute to higher prices for gasoline and diesel fuel. Tereshkin also notes that it will take about six months to fully restore pre-crisis sales levels of new cars. Additionally,...