... accessibility of these sites for more potential consumers to a significant level. Provide sellers and consumers with analytic tools, using artificial intelligence. Reduce the time of the transaction of purchase and sale of the required products. The oil product market does not stay on the sidelines of digitalization. Aksa et al. (2021) note that the emergence of various digital platforms, with different product content and available functionality, leads to the formation of its own digital ecosystem, which develops ...

... remain high despite the OPEC+ standoff and Trump's influence, as well as the role of threats directed at Russia. Eight OPEC+ countries have announced a new increase in oil production for September, effectively ending their plan to adhere to voluntary production restrictions ahead of schedule. However, the market barely registered this change, as oil prices remained relatively stable. On one hand, OPEC+'s generous output increases are exerting downward pressure on prices, while on the other hand, threats from U.S. President Donald Trump to impose new sanctions are pulling prices upward. Forbes ...

... expert referred to data from the Energy Information Administration (EIA), which showed that global demand for oil, gas condensate, and other liquid hydrocarbons in Q2 2024 exceeded production by 720,000 bpd. "Due to the shortage on the global market, commercial oil and petroleum product stocks in OECD countries dropped by 28,000 barrels, which is almost 30% equivalent to the daily global demand. This, in turn, slightly boosted price growth: the average price of Brent oil increased from $82 to $85.3 per barrel from May to July ...

Sergey Tereshkin's column for INFOTECH. In the article "Will Oil Production Decline in Iran and Venezuela? Should the Market Expect Sharp Price Growth or Increased Competition Among Exporters?" the author analyzes the current geopolitical events affecting oil production in these countries. The article discusses how the political crisis in Venezuela and the escalation ...

... begin to decline slowly starting from 2026. For now, the coal sector provides near-record levels of electricity generation worldwide, remaining a vital component of energy supply. Oil Products and Refining: Market Contrasts and Stabilization Measures Oil product markets around the world are developing differently. In Russia, authorities recently took an unprecedented step to stabilize fuel prices. From August 1, a temporary full ban on the export of automotive gasoline for all companies, including large refineries,...