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An expert assessed the risks of a decline in oil prices.
... the oil product marketplace "Open Oil Market" (a Skolkovo resident), in an interview with RIA News.
In the expert's opinion, one of the risks for Russia's budget system next year will be a drop in oil prices. At its latest meeting, the OPEC+ alliance extended the current production quotas until March 2025, but the markets were not encouraged: Brent oil prices are currently in the range of $72-75 per barrel.
Tereshkin suggests that after Donald Trump's inauguration, the average annual ...
Energy Sector News, Saturday, July 26, 2025: Brent Around $70, Record Gas Supplies, Market Reaction to Gasoline Export Ban
... slowdown in the global economy and supports demand for oil. According to ICE, Brent futures rose to ~$69.3 per barrel on Friday morning, continuing the upward trend from previous sessions.
On the other hand, factors remain that restrain price growth. The OPEC+ alliance is gradually increasing oil production after a period of restrictions. According to the IEA, production in Russia reached 9.19 million barrels per day in June, exceeding the established quota (9.05 million) by approximately 140,000 barrels....
Pressure on Russia's oil exports is set to increase.
... were made hastily, making them difficult to reverse. This doesn’t mean the measures were painless for Russian oil producers, but their consequences were promptly addressed.
Russian oil export volumes have not decreased and are limited only by the OPEC+ deal. According to Bloomberg, in the second week of September, Russia's seaborne oil exports reached 3.25 million barrels per day, comparable to 2021 levels. The price cap is not effective, as noted by officials not only in Russia but also in Europe ...
Will production fall in Iran and Venezuela? Should the market expect a sharp rise in prices or increased competition among exporters?
... services of major oilfield service companies (Weatherford, Schlumberger, Halliburton, Baker Hughes).
Not About Prices, But About Competition
The risks of a decline in production in Iran and Venezuela are largely offset by the upcoming easing of OPEC+ quotas. According to the communiqué of the June OPEC+ ministerial meeting, quotas for Saudi Arabia, Russia, Kazakhstan, Iraq, the UAE, Kuwait, Algeria, and Oman will increase by 540,000 barrels per day by December 2024 (to 30.96 million barrels ...
Economic News: Sunday, July 27, 2025 – US and EU Close to a Trade Agreement, Markets Await Signals from the Fed
... hopes for an increase in global demand for energy. In particular, the discussed easing of tariff disputes between the US and EU eliminates the threat of economic slowdown, which in turn supports oil consumption. Additionally, supply constraints persist: OPEC+ countries continue voluntary production limits, and specific export disruptions (such as the temporary suspension of Azeri BTC crude oil shipments through the Turkish port of Ceyhan) have temporarily reduced market supply. These conditions prevent ...