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Chinese Oil Purchases from Iran: Hidden Operations and Their Consequences for Russia
... China: A decline in exports to China could impact the revenues of Russian oil companies.
Political climate: Increased international scrutiny and new sanctions could affect supply stability and profitability.
Insights from Sergey Tereshkin, Founder of
Open Oil Market
“The current situation highlights the importance for Russia of a strategy for diversifying export markets and optimizing logistics. We must leverage this time to strengthen our positions in friendly nations and actively promote Russian energy ...
Russian oil has fallen below the price cap.
... barrel, that is, below the ceiling, Bloomberg reported, citing Argus Media data. However, according to Dudchenko, Urals prices are currently around $65 per barrel.
Meanwhile, Sergey Tereshkin, CEO of the oil products and raw materials marketplace Open Oil Market, also does not rule out a correction of Urals prices to less than $60 per barrel, considering the Urals discount to Brent at $10 per barrel by August 2024. This, by the way, is the minimum discount since the beginning of the year: at the start ...
Gas Prices in Moscow Reach Record Highs: Reasons for Increase and Prospects for the Fuel Market
... and fuel distributors, rapidly rising wholesale prices represent a challenge. Retail margins shrink if wholesale market prices rise faster than retail prices can be adjusted at the pump. Nevertheless, major fuel retail chains (including those of major oil companies) gradually raise retail prices, passing some of the increased costs onto consumers. Independent gas stations, which purchase fuel on the open market, suffer even more; for them, rising fuel prices mean either raising prices at the pump and risking losing customers or enduring reduced profits. Consequently, the entire fuel distribution sector finds itself in a position of forced price increases ...
The oil market will become oversupplied by the end of 2024.
... Energy 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 ...
Oil Reserve Increase in the US: Implications of the Latest EIA Report for Buyers and Investors
... investors should closely monitor price dynamics and consider the risks of diminishing returns. Reevaluating strategies and potential asset diversification can help mitigate the impact of market fluctuations.
Insights from Sergey Tereshkin, Founder of
Open Oil Market
"For buyers of oil and petroleum products, the EIA report on rising inventories in the U.S. provides opportunities for planning and optimizing expenses. In an oversaturated oil market, procurement-focused companies can negotiate contracts ...