Current News in the Oil, Gas, and Energy Sector as of December 8, 2025: Market Situation, Sanctions, Energy Security, Coal, Renewable Energy, Russian Fuel Market, and Key Trends in the Energy Sector.
The latest developments in the fuel and energy complex as of December 8, 2025, unfold against the backdrop of a persistent standoff between Russia and the West, alongside relative stability in commodity markets at the beginning of the winter season. Western countries have recently intensified their sanctions, introducing new restrictions against the Russian energy sector and closing loopholes to circumvent the embargo.
Simultaneously, global commodity markets are exhibiting relative stability. Oil prices are hovering near recent lows, with Brent stabilizing in the $60–65 per barrel range after briefly dipping below $60, supported by an abundant supply. The European gas market enters winter with very high stock levels — underground gas storage in the EU is over 90% full, keeping wholesale prices at a comfortable level (TTF around €30 per MWh).
In this context, the global energy transition is gaining momentum. Investments in renewable energy are breaking records, already exceeding investments in fossil fuel extraction. The share of "green" sources in global electricity generation is steadily rising. However, oil, gas, and coal continue to constitute the backbone of the energy balance, meeting current demand and ensuring energy system security during the transition period.
In Russia, by the beginning of December, the domestic fuel market has notably stabilized due to emergency measures taken by the government in the fall. The acute shortage of gasoline and diesel that emerged at the end of summer has largely been resolved: wholesale prices have retreated from peak levels, independent gas stations have resumed normal operations, and regional supply has returned to normal. Authorities continue to maintain export restrictions on petroleum products and support measures for oil refining to prevent another surge in prices and shortages during the winter.
Below is an overview of key news and trends in the oil, gas, electricity, renewable energy, and coal sectors, as well as in the Russian fuel market as of the current date.
Oil Market: Oversupply and Weak Demand Pressure Prices
Global oil prices remain depressed under the influence of oversupply and moderate demand. The benchmark Brent is trading around $64–65 per barrel, WTI at $60–61, approximately 10% lower than a year ago. Several factors are influencing the situation:
- OPEC+ Production Increase. The OPEC+ alliance is systematically increasing supply. In December, production quotas have been raised by about 100,000 barrels per day, bringing the total increase since April to approximately 2.7 million barrels per day. This has led to a rise in global oil and petroleum product inventories.
- Weak Demand Growth. Global oil consumption is growing significantly slower than in previous years. The IEA forecasts a demand increase of only around 0.7 million barrels per day in 2025 (compared to over 2 million in 2023). Factors influencing this include a slowdown in the global economy, the effect of high prices from previous years (energy conservation), and structural shifts such as the accelerated spread of electric vehicles. Weak industrial growth in China is also limiting appetite from the world's second-largest oil consumer.
Gas Market: High Stocks in Europe and Price Stability
The gas market is entering winter in a favorable position. Underground gas storage in the EU is over 90% full, providing a strong buffer and keeping prices low. Prices at the TTF hub have stabilized around €30 per MWh, significantly lower than the peaks of last winter, indicating a balance of supply and demand in Europe.
- Europe Ready for Winter. Record gas stocks guarantee resilience even during severe cold spells. Tepid economic growth and high renewable energy generation are restraining gas consumption in the EU, so even with colder weather, a significant portion of the additional demand can be met from storage — the risk of a deficit is minimal.
- Diversification of LNG Imports. Record liquefied natural gas (LNG) deliveries from the US, Qatar, Africa, and other regions have helped to fill European storage. Over the summer, the EU took advantage of low spot prices and weak Asian demand to procure maximum LNG and prepare for winter.
Thanks to accumulated reserves and diversified imports, Europe is entering the heating season without signs of fuel shortages, and prices remain comfortable for consumers. Despite the reduction in domestic production and the near-total cessation of Russian pipeline gas supplies, joint procurement, energy conservation, and the accelerated introduction of renewable energy strengthen Europe's energy security.
International Politics: Sanctions Standoff Without De-escalation
- New Western Restrictions. In recent months, a series of additional sanctions have been imposed against the Russian energy sector. The US has blacklisted major oil and gas companies in Russia. The EU has approved a new package aimed at closing remaining loopholes to circumvent the embargo. The UK has added a number of foreign companies, aiding in the trade of Russian oil, to its sanctions list.
- Pressure on India and China. Under pressure from the West, Moscow's largest Asian clients have been urged to limit cooperation. India has expressed its willingness to gradually reduce purchases of Russian oil (a slight drop is expected as early as December), while China has also been signaled to cut imports. Thus far, neither New Delhi nor Beijing is rushing to make real moves, emphasizing that their policies are based on national interests. Nevertheless, the prospect of reduced Asian demand heightens uncertainty, and Russia is redirecting supplies to alternative markets.
Asia: India and China Strengthening Energy Security
Asian giants remain key drivers of global energy consumption growth. Despite external pressure, China and India prioritize the availability and reliability of energy supplies, increasing their imports of oil, gas, and coal on advantageous terms.
- China and India. China is receiving record volumes of Russian gas and remains one of the main buyers of Russian oil and coal at discounted rates. India has also increased its imports of Russian oil to meet its needs. Both countries are in no hurry to reduce cooperation with Moscow, placing energy security above external pressure.
Overall, high demand from Asian countries compensates for stagnation in Western consumption, maintaining global levels of oil, gas, and coal usage. The pursuit of energy security drives Asian economies to diversify their sources and enter into long-term contracts. While China and India are gradually investing in clean energy, it is their purchases of traditional resources that currently largely determine the dynamics of the global energy market.
Electric Power and Renewables: Record Demand and New Challenges
Global electricity consumption in 2025 reaches an all-time high, surpassing 30,000 TWh for the first time. Renewable sources now account for about 30% of this electricity consumption. The major contributions to demand growth come from developing countries in Asia (primarily China and India), as well as the proliferation of electric transportation and electric heating.
- Infrastructure Modernization. Worldwide, the modernization of electrical grids and generation capacities is accelerating. Substantial investments are being directed towards smart grids, energy storage, and enhancing transmission lines. These efforts improve the reliability of electricity supply and prepare networks for the increasing share of renewable generation.
Coal Sector: High Demand in Asia and Accelerated Phase-out in the West
The global coal market in 2025 remains close to record levels of consumption, though dynamics vary by region. Asia continues to see high demand, allowing for maximum global coal utilization, while the West experiences a rapid decrease in its use of this fuel.
- East and West. In Asia (China, India), coal demand remains high: these countries are increasing their production and imports to meet energy and industrial needs. Major exporters (Australia, Indonesia, South Africa, Russia) maintain a high volume of supplies to the East. Meanwhile, in the West, coal is being rapidly displaced: stringent environmental regulations have reduced its share to minimal levels (in the EU it accounts for just a few percent of generation, while in the US consumption has reverted to 1970s levels). As long as Asian economies do not begin to substantially reduce their dependence on coal, global consumption will remain near record levels.
Russian Fuel Market: Stabilization After Crisis and Priority of Domestic Market
In the fall of 2025, the domestic market for petroleum products in Russia has gradually stabilized after the acute supply crisis that occurred at the end of summer. Thanks to emergency measures by the government, the situation with gasoline and diesel has been brought under control: shortages in most regions have been eliminated, and price growth has ceased.
- Export Restrictions and Stabilization. The export ban on gasoline, introduced at the end of September, has been extended until December 31, 2025; restrictions on diesel fuel exports are also maintained (independent traders are not exporting, and oil companies are permitted only limited exports). These measures and subsidies to oil refiners have yielded results: wholesale prices have retreated from peaks, and independent gas stations have resumed normal operations without supply disruptions, even in remote regions.
The government intends to maintain control over the fuel market at least until the end of winter, while simultaneously developing long-term solutions to enhance the sector's resilience.
