Commodity Market Report

Russian Federation product markets 2021 outlook to 2050

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29 July 2021

Russian Federation product markets 2021 outlook to 2050

Report summary

In 2021, the Russian Federation is expected to recover a big portion of last year’s losses in both supply and demand, however refinery utilisation in the country doesn’t reach pre-pandemic levels in our forecast to 2050. With over 3 million b/d of demand, the Russian Federation represents more than 70% of the oil demand of the Russia and the Caspian region. The country had among the highest Covid-19 caseloads globally, but oil demand was not significantly reduced in 2020 as the growing petrochemicals sector compensated for some of the fall. In the longer term, Russian Federation oil demand grows from 3.3 million b/d in 2019 to 4.3 million b/d in 2050 with almost all of that growth coming from the expanding petrochemicals sector.

Table of contents

  • Executive Summary
  • Supply: Is it too much to handle?
  • The future is light and middle distillates; government and refineries aligned to a lighter product slate

Tables and charts

This report includes 3 images and tables including:

  • Recovery of oil demand by sector
  • Russia Federation Oil Demand by Product
  • Product balances - all supply versus demand

What's included

This report contains:

  • Document

    Russian Federation.xlsx

    XLSX 1.27 MB

  • Document

    Russian Federation product markets 2021 outlook to 2050

    PDF 1.02 MB