While in September this year oil market analysts expected oil prices to reach $90 per barrel, now market players are fearing the 2014 trend when the price plummeted by more than 25%.
In September 2014 the price for Brent was $97.37, and in January 2015 it was already as low as $48.42 per barrel.
Last year Brent futures fell down to $58.80 per barrel, however today it was up to $61 per barrel pending the OPEC+ meeting next week that is to decide on production volumes.
According to the RF Federal Customs Service’ statistics, in January-September 2018 Russia exported 190.9 mn tons of crude oil, down 0.1% year-on-year.
In terms of value crude oil export grew 37.8% up to $94.1 bn.
Oil products export decreased 0.6% down to 115.2 mn tons. In terms of value it increased 32.9% up to $58.7 bn.
Diesel fuel export grew 7.8% tonnage up to 42.5 mn tons in terms of tonnage and 44.4% up to $25.2 bn in terms of value.
Petrol export was down 3.8% to 3.2 mn ton in terms of tonnage and up 19.6% to some $1.9 bn in terms of value.
Natural gas export increased 10.7% up to 165.9 bn cbm in terms of volume and 34.5% up to $35.4 bn in terms of value.
Liquefied natural gas export surged 63.1% up to 29.2 mn tons, its value grew 80.8% up to $4.2 bn.