Browsing by Subject "oil"

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  • Bank of Finland (2016)
    Bank of Finland. Bulletin 4/2016
    The oil market drifted into an imbalance in 2014 as supply grew and demand was subdued. Oil prices have subsequently dropped, from around USD 110 per barrel to the current level of just under USD 50 per barrel. According to futures prices monitored in the Bank of Finland forecast for the international economy, oil prices will rise only slightly in the near future. Futures prices are however surrounded with considerable uncertainty.
  • Simola, Heli; Solanko, Laura (2017)
    BOFIT Policy Brief 5/2017
    This overview is a compilation of ten concise articles that give a general picture of the current situation and prospects of Russia’s oil and gas sector. The articles are independent and together they give a rich overview of the development of the oil and gas sector and the significance of the sector in the Russian economy. The oil sector generates more export and tax revenue for Russia, but the gas sector plays a key role, particularly from a domestic market perspective. In the next few years, Russia’s oil production and exports are expected to grow slowly at best, because a stronger increase in production would require more investment. In oil production and particularly in exports, the focus of growth has shifted eastwards, and China has become one of Russia’s most important export markets. Growth of natural gas production, on the other hand, is limited more by demand than supply factors and gas production will remain focused in the future on its present locations in Russia’s Arctic regions. Despite plans, the export market for natural gas will still be mainly in the West, due to limited transport infrastructure. Examination of both the Russian and the international oil and gas sector is complicated by statistical peculiarities.
  • Simola, Heli; Solanko, Laura (2021)
    BOFIT Policy Brief 7/2021
    The past two decades have witnessed a major transformation of global energy markets. While growth in energy demand now comes from emerging economies, and technologies critical to oil and natural gas production have seen dramatic advances, the biggest changes in global energy markets lie ahead. For countries to meet their ambitious climate goals, demand for conventional energy sources must fall significantly and be accompanied by a massive shift in investment to renewable energy sources. Such changes can have major implications for the Russian economy, which depends heavily on oil and gas. This brief provides an overview of the latest trends in Russia’s oil & gas sector in the context of evolving global energy markets.