Russia to decrease export of “black gold” and to risk losing billions dollars against the background of world prices growth

In January-August, the supplies of Russian oil abroad fell by 2.6% as compared with the same period of the last year and made up 156 million tons, the Central Dispatch Department of the Fuel and Energy Sector reports. It’s notable that the decrease of the supplies occurs against the background of prices growth because of the escalation of the conflict around Syria. But due to the underdevelopment of the domestic oil industry, when “easy” oil has almost all been taken and the development of new field requires billions of investments, our country is unlikely to derive a tangible benefit from the boom on the hydrocarbons market. On the other hand, the increase of the export oil supplies is fraught with shortage on the domestic market and increase of gasoline prices, the Novye izvestiya writes.