Abstract

The article analyzes the current state of the Russian oil industry, taking into account the trends of recent months in the Russian oil industry through the prism of the main macroeconomic and summary industry factors affecting it. The relevance of the study is further emphasized by the difficult economic situation caused by the consequences of the Covid-19 pandemic, which is directly related to the oil markets. In the course of the study, the features of both the Russian oil industry as a whole and the factors that determine its development were identified, including the factor of influence of the current state of the world oil market and its trends on the state of Russian oil production, the role of the state factor in the regulation of the Russian oil industry and the trends of internal factors that determine the development of Russian oil production. The main focus of the work was on the study of global trends as the most complex and unpredictable factor that plays an important role in the development of the oil industry. Due to the high share of Russia in the world oil production and the share of oil production revenues, which accounts for up to 40% of all consolidated budget revenues, the factor of foreign economic impact acquires the character of state significance, determining the measure of stability of the national economy in times of unfavorable movements in the global oil market. In the course of the analysis, the authors made conclusions on each of the considered groups of factors. The main factors that introduce an element of uncertainty and destabilization, according to the authors, are the possibility of increasing the speed of the spread of the pandemic and the failure of the OPEC + deal, while industry indicators and the main directions of state regulation indicate the relative stability of Russian oil production against the background of the already existing consequences of the pandemic in the context of a gradual movement of the economy to recovery.

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