Current news in the oil, gas, and energy sector as of December 8, 2025: market situation, sanctions, energy security, coal, renewables, Russian fuel market, and key trends in the fuel and energy complex.
The current events in the fuel and energy complex on December 8, 2025, unfold against the backdrop of an ongoing tough standoff between Russia and the West, alongside relative stability in commodity markets as the winter season begins. Western countries have recently intensified sanctions pressure, implementing new restrictions on the Russian energy sector and closing loopholes for circumventing the embargo.
Concurrently, global commodity markets are exhibiting relative stability. Oil prices are hovering around recent lows: Brent has stabilized in the range of $60–65 per barrel after a brief dip below $60, driven by an abundance of supply. The European gas market is entering winter with very high reserves – EU storage facilities are over 90% full, keeping wholesale prices at a comfortable level (TTF around €30 per MWh).
Amid this backdrop, the global energy transition is gaining momentum. Investments in renewable energy are breaking records and have already exceeded those in fossil fuel extraction. The share of green sources in global electricity generation is steadily rising. However, oil, gas, and coal remain the backbone of the energy balance, satisfying current demand and ensuring energy system security during the transition period.
In Russia, by early December, the domestic fuel market has stabilized significantly thanks to emergency measures taken by the government in the fall. The acute shortage of gasoline and diesel that emerged in late summer has largely been resolved: wholesale prices have retreated from peaks, independent gas stations have resumed normal operations, and supply to regions has returned to normal. Authorities continue to impose restrictions on the export of oil products and support measures for refining to prevent a repeat surge in prices and shortages during the winter months.
Below is an overview of key news and trends in the oil, gas, electric power, renewable energy, and coal sectors, as well as the Russian fuel market as of the current date.
Oil Market: Supply Glut and Weak Demand Pressure Prices
Global oil prices remain depressed due to an oversupply and moderate demand. The benchmark Brent trades around $64–65 per barrel, while WTI is at $60–61, approximately 10% lower than a year ago. Several factors are influencing the situation:
- OPEC+ Output Increase. The OPEC+ alliance is methodically increasing supply. In December, production quotas were raised by approximately 100,000 barrels per day, bringing the total increase since April to around 2.7 million barrels per day. This leads to rising global inventories of oil and oil products.
- Weak Demand Growth. Global oil consumption is growing significantly slower than in previous years. The IEA forecasts demand growth in 2025 to be only about +0.7 million barrels per day (compared to over +2 million in 2023). Factors influencing this include a slowdown in the global economy, the impact of high prices in previous years (energy conservation), and structural shifts such as the accelerated adoption of electric vehicles. Weak industrial growth in China is also limiting the appetite of the world’s second-largest oil consumer.
Gas Market: High Reserves in Europe and Price Stability
The gas market is heading into winter in favorable condition. EU storage facilities are over 90% full, providing a robust buffer and keeping prices at low levels. TTF hub prices have stabilized around €30 per MWh, which is significantly lower than last winter's peaks and indicates a balance between supply and demand in Europe.
- Europe Ready for Winter. Record gas reserves ensure reliability even during severe cold snaps. Weak economic growth and high renewable energy generation are mitigating gas consumption in the EU, meaning that even in colder weather, much of the additional demand can be met from storage, minimizing the risk of shortages.
- Diversification of LNG Imports. Record liquefied gas shipments from the US, Qatar, Africa, and other regions have helped fill European storage facilities. During the summer, the EU took advantage of low spot prices and weak Asian demand to procure maximum LNG in preparation for winter.
Thanks to accumulated reserves and diversified imports, Europe enters the heating season without signs of fuel shortages, and prices remain comfortable for consumers. Despite reduced domestic production and a near-total halt in Russian pipeline gas supplies, joint purchases, energy conservation efforts, and the accelerated introduction of renewable energy sources enhance Europe’s energy security.
International Politics: Sanction Confrontations Without De-escalation
- New Western Restrictions. In recent months, a series of additional sanctions have been imposed against the Russian fuel and energy sector. The U.S. has blacklisted major oil and gas companies in Russia. The EU has approved a new package aimed at closing remaining loopholes for circumventing the embargo. The UK has added several foreign companies that assist in trading Russian oil to the sanctions list.
- Pressure on India and China. Under Western pressure, major Asian clients of Moscow have been urged to limit cooperation. India has expressed readiness to gradually reduce purchases of Russian oil (a slight decrease is expected starting in December), while China has also been signaled to trim imports. However, neither Delhi nor Beijing is rushing to take real steps, emphasizing that their policies depend on national interests. Nevertheless, the prospect of declining Asian demand adds uncertainty, prompting Russia to redirect supplies to alternative markets.
Asia: India and China Strengthening Energy Security
The Asian giants remain key drivers of global energy consumption growth. Despite external pressures, China and India prioritize the availability and reliability of energy supply, ramping up imports of oil, gas, and coal on advantageous terms.
- China and India. China is receiving record volumes of Russian gas and remains one of the top buyers of discounted Russian oil and coal. India has also increased imports of Russian oil to meet its needs. Both countries are in no hurry to reduce cooperation with Moscow, placing energy security above external pressure.
Overall, high demand from Asian countries offsets stagnation in consumption in the West, maintaining high levels of global oil, gas, and coal usage. The drive for energy security compels Asian economies to diversify sources and enter into long-term deals. Although China and India are gradually investing in clean energy, it is their purchases of traditional resources that currently largely determine the dynamics of the global energy market.
Electric Power and Renewables: Record Demand and New Challenges
Global electricity consumption in 2025 reaches a historic maximum, exceeding 30,000 TWh for the first time. Renewable sources now account for about 30% of this electricity. The primary contributions to demand growth are coming from developing countries in Asia (particularly China and India), along with the expansion of electric transport and electric heating.
- Infrastructure Upgrade. Worldwide, the modernization of power grids and generating capacities is accelerating. Significant investments are being directed toward smart grids, energy storage, and strengthening transmission lines. These efforts enhance the reliability of electricity supply and prepare networks for the increased share of renewable generation.
Coal Sector: High Demand in Asia and Rapid Phase-out in the West
The global coal market in 2025 remains close to record levels of consumption, although dynamics vary by region. High demand in Asia allows for maximum global coal usage, while in the West, the use of this fuel is rapidly declining.
- East and West. In Asia (China, India), demand for coal remains high: these countries are increasing production and imports to support their energy and industrial needs. Major exporters (Australia, Indonesia, South Africa, Russia) maintain high supply volumes to the East. Meanwhile, in the West, coal is being rapidly phased out: stringent environmental regulations have reduced its share to minimal levels (in the EU, it accounts for only a few percent of generation, while in the US, consumption has reverted to levels seen in the 1970s). As long as Asian economies do not begin to significantly reduce their dependence on coal, global coal consumption will remain close to record highs.
Russian Fuel Market: Stabilization After Crisis and Priority on Domestic Market
In the fall of 2025, the internal market for oil products in Russia has gradually stabilized after the acute supply crisis that occurred in late summer. Thanks to emergency government measures, the situation with gasoline and diesel has been brought under control: shortages in most regions have been eliminated, and price growth has been halted.
- Export Restrictions and Stabilization. The ban on the export of automotive gasoline, imposed in late September, has been extended until December 31, 2025; restrictions on diesel fuel exports are also still in place (independent traders are not exporting, and oil companies are allowed only limited exports). These measures and subsidies to refiners have had an effect: wholesale prices have retreated from their peaks, and independent gas stations have resumed normal operations without supply disruptions even in remote regions.
The government intends to maintain control over the fuel market at least until the end of winter while simultaneously developing long-term solutions to enhance the sector's resilience.
