One of the main factors behind the reduction in oil supply and, consequently, theincrease in oil prices in Q1 2021 was the voluntary decision of Saudi Arabia underthe OPEC+ agreement to further reduce its production by 1 mbpd. This fact resultedin a record overall conformity with the original...

The main uncertainties for the world oil market in H2 2022 are as follows: formal completion of the OPEC+ deal in September 2022 and chances and terms of its extension; sanctions on Russian exports of oil and oil products, their scale and duration

The revision of the oil output baseline for the UAE made it possible to reach a compromise in the negotiations to extend the OPEC+ agreement. In return, the UAE supportedthe proposal to extend the current deal until the end of 2022, and to increase thetotal oil production by OPEC+ countries by...

Despite the adherence to the commitments according to the OPEC+ deal on the joint efforts to cut production, during Russia's three-year participation in the deal as a whole the annual crude oil production in the country increased by 2.4% on the back of stabilized world crude oil prices. Collapse...

The refusal to sharply increase oil output by the OPEC+ deal participants and the news of the launch of vaccinations against the coronavirus were positively received by the world oil market: on December 10, for the first time since March 2020, Brent crude futures rose above $50 per barrel. The...

The taxation reform in the oil and oil-refining industries in 2014 – the ‘tax maneuver' – was designed to boost the performance of domestic oil refineries. In late 2015, the planned reduction of export duty was suspended in order to keep unchanged the volume of tax-generated revenues...