Main Trends In the Oil Sector In 2018-2019
Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019, No. 4, pp. 6-10
5 Pages Posted: 29 Apr 2019
Date Written: March 28, 2019
Amid raising global oil prices, crude oil production in Russia in 2018 hit an all-time high for the post-Soviet period. Under the first stage of tax maneuver in force in the oil industry, production and export of fuel oil moved down resulting in contraction of oil refining volumes but refining depth went up notably. Year 2019 saw the launch of the second stage of the tax maneuver in force in the oil industry and the tax on extra revenue was adopted.
Keywords: Russian Economy, Oil and Gas Sector
JEL Classification: L71, L72
Suggested Citation: Suggested Citation