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Economic News: Saturday, July 26, 2025 - CBRF Reduces Rate, Wall Street Hits New Highs
... increase heavy crude exports by more than 200,000 barrels per day. However, these plans are only moderately supporting prices at present, as traders account for gradual growth in Venezuelan supply, while overall global oil inventories remain limited due to OPEC+ actions. Temporary disruptions in the export of Black Sea oil (including suspensions of shipments of Azeri BTC in the Turkish port of Ceyhan), which have restricted supply in the market, are also providing additional support.
On the other hand, ...
The consequences of the drop in oil prices for Russia have become known.
... oil prices, Sergey Tereshkin, CEO of the petroleum product marketplace Open Oil Market, said in a conversation with RIA Novosti.
According to him, one of the serious risks to Russia's budget system in 2025 will be a drop in raw material prices. The OPEC+ alliance, at its most recent meeting last week, extended the validity of the current quotas until March 2025, but the markets did not react positively. Tereshkin noted that the price of benchmark Brent crude oil remains in the range of $72–$75 ...
An expert has predicted that Russia's oil exports will grow by more than 10%.
... predicts that Russia's oil exports will increase by more than 10% by the end of the year. The reduction in gasoline exports, effective from August to December 2024, may lead to a redirection of crude oil to external markets. Additionally, the easing of OPEC+ quotas will allow Russia to boost oil production, further contributing to the growth in exports.
Russia's Oil Exports to Increase by Over 10% by Year's End, Says Open Oil Market CEO Sergei Tereshkin
Russia's oil exports are expected to grow ...
What will happen to oil and gas budget revenues by the end of the year?
... the share of oil and gas revenues in the federal budget for 2024 will remain around 31.7%, but it may decrease to less than 30% next year due to an increase in the base corporate tax rate and a potential drop in oil prices amid rising production in OPEC+ countries.
Нефтегазовые доходы (НГД) федерального бюджета в октябре составили 1,2 трлн руб., превысив аналогичный показатель за прошлый месяц ...
The share of oil and gas revenues in the 2024 budget is growing beyond the planned levels.
... higher tax burden on oil and gas companies. Additionally, the phaseout of a surcharge on MET for Gazprom and risks of lower oil prices may further reduce revenues.
Despite these trends, MET will remain a key component of oil and gas revenues, with OPEC+ agreements expected to allow Russia to increase oil production in the coming years. However, the role of export duties will diminish due to their elimination for oil and petroleum products from 2024 onward.
The real contribution of the oil and ...