Expert names key markets for Russian oil exports

New reserves of energy resources are discovered every year, and often the rate of their increase exceeds the level of production. Today, China and India remain the main destinations for Russian oil exports. Dmitry Skryabin, portfolio manager of Alfa Capital Management Company, told Izvestia on February 7.

According to the expert, the current production rates are lower because there are OPEC+ reduction commitments. Since April, the level of production should increase, and theoretically can reach 9.5 million barrels per day at the end of 2025, which is 6% higher than in December 2024.

According to him, the main promising destinations for Russian oil exports are currently China and India.

"Given the large stock of potential demand for oil and petroleum products in these countries and their friendliness, I think that they will remain the key markets for Russia in the foreseeable future," Skryabin summarized.

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Earlier, on January 20, Igor Yushkov, leading analyst of the National Energy Security Fund, expert and lecturer at the Financial University under the Government of the Russian Federation, noted in a conversation with Izvestia that China has long been one of the largest buyers of Russian energy resources. It has held this position for many years, even before the tightening of anti-Russian sanctions in 2022, being in first place in terms of the volume of Russian oil purchases.