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RUSSIA: Gas Production Surges in July, Macroeconomic Data on Docket

RUSSIA
  • Gas production in Russia rose 9.2% y/y year to 409.36bcm in the first seven months of 2024, including 16% to 52bcm in July alone, Kommersant report. The growth was driven primarily by Gazprom, which ramped up gas deliveries to the domestic market amid extremely hot weather this summer.
  • Meanwhile, Russia's seaborne oil flows rebounded to the highest in almost two months, boosted by a recovery in shipments from its Sakhalin Island projects in Asia, according to Bloomberg. The nation’s four-week average crude exports increased to 3.26 million barrels a day in the week to Aug 25, rising by 60,000 barrels a day compared with the previous period.
  • The Federal Statistics Service reports July macroeconomic data (including retail sales, average wage and unemployment rate data) and weekly CPI figures at 17:00BST/19:00 local time.
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