HomeMediaLatest NewsMost of the Russian oil refineries cannot function normally without exports

Most of the Russian oil refineries cannot function normally without exports

27 September 2023

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to the Davydov.Index internet portal on the gasoline and diesel fuel prices dynamics in the domestic market after the introduction of their export restrictions.

Alexey Belogoryev argues that the exchange price of fuel has returned to growth after the introduction of the export ban:

"Exchange prices cannot fall all the time. There was a correction after a 20 percent drop. Despite the fact that fundamentally little has changed: the temporary ban on exports has remained.

There is a problem of export attractiveness. After the ban is lifted, exports will continue to be more attractive to oil companies than the domestic market. This applies to the end of this year and the coming years. The measures that have been taken can have a short-term impact on the situation. But the risks remain, and market participants are well aware of this."

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