... a shift in the Chinese economy towards gas and RES. In the meantime, the coal sector remains a crucial component of energy supply, achieving nearly record levels of electricity generation worldwide. Oil Products and Refining: Regional Contrasts The oil products market varies across different parts of the world. In Russia, authorities have taken an unprecedented step to stabilize fuel prices. As of August 1, a temporary total ban on the export of automotive gasoline for all companies, including major producers ...

... 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 per day to the market....

... African countries, as well as ramping up purchases of Russian crude, taking advantage of price discounts on Urals. A similar pattern is evident in natural gas: significant volumes of LNG are being sourced by China from Qatar, Australia, and the spot market, bypassing American gas. Concurrently, Europe continues its course to reduce dependence on Russian energy resources. Imports of Russian oil and petroleum products into the EU have virtually ceased due to the existing embargo, while pipeline gas deliveries have been lowered to minimal volumes. The European Union is actively developing infrastructure for receiving LNG (new terminals are being built, and ...

... for both them and the consumer. If they want to increase sales, they lower the price; if they need to raise the price due to a shortage, they adjust the price accordingly. — What main technologies are used today for trading relationships in the oil products market? What are the market prospects? — We see the widespread implementation of digital technologies in both oil extraction and refining. When we began developing digital sales technologies, the picture was different: IT technologies were too expensive ...

... Further steps will be discussed at the OPEC+ monitoring committee meeting on September 7, where the fate of the remaining voluntary restrictions of 1.65 million b/d will be evaluated (their action has been extended until the end of 2026). The Russian Oil Products Market: Export Ban and Price Stabilization The full export ban on certain oil products, primarily automotive gasoline, remains in effect in the Russian fuel market. The government has extended these restrictions to all producers and traders: from late ...