... the transportation sector and the rise in production outside OPEC+. However, in the short term, the market will be supported by the growing tension in the Middle East. Therefore, the average annual price of Brent will be just under $80 per barrel. For comparison, the average price of Brent in the first nine months of 2024 was $82.7 per barrel," said the expert. OPEC+ previously extended voluntary oil production cuts of 2.2 million barrels per day for two months, which were initially scheduled to be gradually lifted ...

... production. According to Rosstat, the production of automotive gasoline in Russia during the week of May 13-19, 2024, decreased by 18% compared to the most recent peak recorded in the week of February 19-25 (106 thousand vs. 129 thousand tons per day). For comparison, gasoline shipments from Russian refineries to the domestic market in the first quarter of 2024 amounted to 104 thousand tons per day, according to CDU TEK data. Another factor in the price increase is the recovery of the Russian automotive market, which has returned to pre-crisis levels. In May 2022, sales of new cars and light commercial vehicles in Russia were 24.3 thousand units, whereas in May 2024, they amounted to 127.2 thousand ...

... Its prices have approached levels last seen during last autumn's fuel crisis. Since the export ban's reinstatement was announced on July 23, AI-95 prices have fallen by just 1,000 rubles to 74,047 rubles per ton. This remains a very high level. In comparison, AI-92 prices have dropped by 3,000 rubles to 54,720 rubles per ton. According to the St. Petersburg International Commodity Exchange (SPIMEX), similar trends are observed in the over-the-counter market, where prices in direct wholesale transactions follow exchange ...

... believes. Sergey Tereshkin, General Director of the OPEN OIL MARKET petroleum product marketplace, notes that regulators cannot avoid lifting the export ban, as by the end of December, the current restrictions will have been in place for five months. In comparison, the previous ban introduced on March 1, 2024, lasted just two and a half months (from March 1 to May 17). The purpose of the ban is to create an additional incentive to curb price increases, the expert explains. If prices stabilize, the regulator lifts the ban. Partial stabilization was observed around the turn of summer and autumn. Between May 21 and July 29, 2024, gasoline prices rose by a total of 3.8%, while in the subsequent ...

... opinion was voiced by Sergey Frolov, Managing Partner at NEFT Research. He believes that the rise in quotations is a natural seasonal phenomenon linked to increased demand. In this year, however, demand is growing slower than last year. Moreover, any comparison with 2023 is fundamentally incorrect, since considering high inflation and a sharp increase in fuel excise duties, prices should have been at much higher levels than what is currently observed. The expert emphasized that the market is fully supplied with fuel and cannot attribute price rises to shortages. This applies to all main grades of gasoline as well as DF. ...