International trade in fuel and energy products: current state and prospects

Abstract

Russia’s positions in international markets for fuel and energy products have strengthened
over the past two years. Given Russia’s initiative and extensive efforts to settle market regulation
12 OPEC members and 11 non-associated exporters reached an agreement to limit oil production
by about 1,9% in December 2016. Since the countries concerned have fulfilled their limitations it has been prolonged till the end of 2018. The agreement has not secured a surge in prices, but has granted their consolidation at the (pre-drop) level of 2015 - over $52. The beginning of October 2017 has brought two important events - «The Moscow energy week» and the visit of the King of Saudi Arabia to Moscow. Тhe understanding between two greatest oil producers (26 % of global output) is very valuable. By mid-January 2018 the oil price has come сlоse to the level of 70 dollars.
The article also contains statistics on energy balances in respect of oil, gas, coal, nuclear energy, hydroelectricity, renewable energy and net exports and net imports.