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The oil market will become oversupplied by the end of 2024.
... Information Administration (EIA), in the second quarter of 2024, global oil supply exceeded demand by 590,000 barrels per day. By the end of the year, this surplus is expected to narrow to 300,000 barrels per day.
Sergey Tereshkin, CEO of the OPEN OIL MARKET platform for oil products and raw materials, explains this trend with the following factors:
Easing of OPEC+ quotas: Saudi Arabia, Russia, and other alliance members plan to increase oil production by December 2024, adding an extra 540,000 barrels ...
An expert explained the increase in gas production in Russia by the rise in supplies to the EU.
... and increased supplies to the EU led to an increase in gas production in Russia (Izvestia).
The expert explained that this is related to the rise in supplies to the EU. Find out how production volumes have changed, what affects the energy resources 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 ...
Will the US Lift Sanctions Against Russia? An Investor's Analysis
US sanctions against Russia are unlikely to be completely lifted, but may be replaced by new restrictions. However, the Russian economy is growing, and the domestic market is opening up new opportunities for investors. How have sanctions affected the economy, which industries are promising, and how to adapt to the new realities? We analyze this in the article.
Will the U.S. Lift Sanctions Against Russia? An Analysis ...
Buyers Battle for Russian Oil in Europe
Discussing the growing competition for Russian oil in Europe. What implications might this have for the market and prices?
The EU has politically positioned itself against Russian energy resources, yet Hungary and Serbia continue to develop long-term plans for their procurement. Specifically, Belgrade and Budapest have discussed constructing a pipeline ...
Regulatory Costs: Can the Rise in Gasoline Prices Be Stopped? (FORBES)
... Russia. Fuel producers are compensating for their costs at the expense of consumers, while regulators are discussing various measures to stabilize the situation, including extending the export ban. However, according to Sergey Tereshkin, CEO of Open Oil Market, the problem can only be solved by significantly increasing the standards for selling gasoline through the exchange.
Gasoline Prices Are Rising Again in Russia
Fuel producers are passing on their costs to consumers, while regulators discuss ...