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World Oil Market in Q2 2022

Andrey S. Kaukin – Acting Head of the Scientific Direction «Real sector» of the Gaidar Institute for Economic Policy; Head of Department for System Analysis of Sectorial Markets of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Eugenia M. Miller – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The main uncertainties for the world oil market in H2 2022 are as follows: sanctions on Russian exports of oil and oil products, their scale and duration; formal completion of the OPEC+ deal in September 2022 and chances and terms of its extension.

The research was conducted as part of the RANEPA state assignment «Transformation potential and risks of development of segments of the Russian energy sector in the context of the gradual displacement of fossil fuels by renewable energy sources».

Key words: oil, global oil market, Russian oil market, oil production, oil price, OPEC+, sanctions.

JEL-сodes: L71, E3, Q3.