From January to September 2025, the net profit of Russian crude oil company was 3.51 billion US dollars, a decrease of 70% compared to the same period last year, which was 11.72 billion US dollars; The company's revenue decreased by 17.8% year-on-year. During the same period, natural gas production decreased by 13.1% and refining volume decreased by 7.8%.
Russian oil company's refining volume decreased by 7.8%, indicating a possible tightening of global gasoline supply. As a major global oil producer, the decline in its supply may drive up gasoline spot prices, especially with relatively stable demand, which constitutes a general positive factor.
The 7.8% reduction in the company's refining capacity directly affects diesel supply. Diesel is a key fuel for transportation, and a decrease in supply may exacerbate market shortages, driving up spot diesel prices. Considering the resilience of demand, this change constitutes a general positive.
The natural gas production decreased by 13.1%, a significant magnitude. As a major exporter of natural gas in the world, Russia's reduced supply may lead to a significant increase in global natural gas spot prices, especially with high energy demand, which constitutes a major positive factor.
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