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Russia’s role in the world oil and petroleum market

Author

Listed:
  • Konstantin Petrovich Fedorenko

    (The Siberian State Transport University, Novosibirsk, Russia)

Abstract

The article gives a general description of the current state of the world oil and oil products market, identifies Russia's positions in this market. The author shows the country distribution of world oil reserves, its production and export, indicating the volumes of both production and export of crude oil per day. The countries-leaders in oil refining are named, the distribution of sales markets between regions -exporters of oil and oil products is shown. Data are provided on the export of crude oil and products of its processing by Russia over the past five years. The article also compares the volumes of sales of Russia and OPEC in the world oil market, concludes that Russia can strengthen its position due to the further development of oil refining and ousting OPEC, primarily from the Chinese segment of the world oil and oil products market.

Suggested Citation

  • Konstantin Petrovich Fedorenko, 2016. "Russia’s role in the world oil and petroleum market," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 9, pages 63-82, September.
    • Handle: RePEc:alq:rufejo:rfej_2016_09_63-82
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