In September, there was a neutral price trend in the global oil market. For most of the period, Brent crude oil prices fluctuated in an expanding range from $65 to $72 per barrel under the influence of multidirectional factors.
This is stated in issue No. 1643 of the monthly bulletin "Branches of the Russian Economy: manufacturing, finance, securities. Oil and Gas production and Oil refining" dated October 8, 2025.
The main one was the expectations of market participants regarding the increase in production by OPEC+ countries. Following the meeting of the alliance, the participating countries agreed to increase production by only 137 thousand barrels per day from November, which turned out to be lower than projected volumes. In general, the balance of factors has not yet shifted either towards growth or upward. Nevertheless, in the first decade of October, trading took place at the lower limit of the specified price range.
Oil production in Russia increased by an average of 50,000 barrels per day in August compared to July. Such data is provided by OPEC. Thus, production in August amounted to 9.173 million barrels per day against 9.123 million barrels per day in July. In a September report, the International Energy Agency, on the contrary, estimated that Russia reduced oil production by 30,000 barrels per day in August compared with July, to 9.3 million barrels per day. Taking into account the updated schedule under the OPEC + agreement, in August Russia was allowed to increase production to 9.259 million barrels per day, taking into account compensation for previously allowed overproduction.
In the first nine months of 2025, gas production in Russia amounted to 431.4 billion cubic meters. m, having decreased by 3.7% compared to the same period in 2024. Natural gas production decreased by 3.4% year-on-year, amounting to 364 billion cubic meters. Associated petroleum gas production decreased by 4.7% year-on-year. According to the updated medium-term forecast of the Ministry of Economic Development, gas production in 2025 is expected to reach 680.2 billion cubic meters, which is 0.6% lower than in 2024.
The Russian government has approved a Concept for the development of the gas engine fuel market until 2035. The document is aimed at increasing the number of vehicles using gas-powered fuel, creating a modern refueling and service infrastructure, as well as improving the environmental situation. The concept assumes two scenarios of development. The implementation of the baseline scenario will increase the volume of gas engine fuel consumption from 2.52 billion cubic meters. in 2024 , up to 9.6 billion cubic meters . m in 2035. The target scenario provides for more favorable conditions and accelerated market development. In this case, the consumption of gas-powered fuel can reach 13.9 billion cubic meters. m in 2035. Tax incentives, preferential loans and leasing are mentioned among the support measures.
For a more detailed analysis, see Issue No. 1643 of the monthly bulletin "Branches of the Russian Economy: Manufacturing, Finance, Securities. Oil and Gas production and Oil refining" dated October 8, 2025.
