... of May 13–19, 2024, compared to February 19–25, which marked the peak production levels this year. Diesel production also declined by 11% during the same period. The drop in output has been particularly severe for the gasoline segment, where surplus capacity is significantly lower than in diesel production. This explains Rosstat's decision to stop publishing data on gasoline production and the faster price growth of gasoline compared to diesel. Other contributing factors include the seasonal ...

... pipeline was halted. Now it can be reversed to pump gas to Moldova,” the expert concludes. Creating an Istanbul Gas Index will be difficult because the trading volumes will be insignificant. As a result, the Turkish gas hub will mainly trade gas surpluses from Russia, Azerbaijan, or the LNG market, according to the expert. However, Turkey has long-term goals for the hub, in addition to seeking discounts on Russian gas. “The creation of the gas trading center is linked to increasing Turkey’s ...

... resources between EU member states and allow Europe to maximize existing domestic energy capacities. Additionally, upgrading storage facilities could help mitigate supply shortages, allowing Europe to store greater volumes of LNG and gas during periods of surplus for later use. Gazprom’s warning about U.S. noncompliance with LNG contracts reveals vulnerabilities in Europe’s current energy strategy. The diversion of LNG shipments has potential economic repercussions for Europe, especially as winter ...

... sentiment in the middle of the week. Eurozone: Current Account In the morning, the focus of European markets will be on the Eurozone's balance of payments. At 11:00 Moscow time, the European Central Bank will release data on the current account for June. A surplus is expected, indicating that export receipts prevail over import expenses. A sustained positive balance supports the Euro's exchange rate and instills confidence in the region's export-oriented companies. However, a significant deviation from ...

... million), while in diesel shipments, it was 41% (35.7 million tons out of 87.9 million). Russian refineries, dating back to the Soviet era, were geared toward producing diesel for supplying heavy and freight vehicles across the USSR, which led to a surplus in the domestic market after 1991 that was used for export. At the same time, Russian diesel has remained competitive in international markets. According to the Federal Customs Service, in 2021, 75% of the export of summer diesel fuel went ...