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Average oil refining margin forecast in Russia 2020, by scenario

Indicative average expected oil refining margin in Russia from January to December 2020, by scenario*

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Release date

April 2020



Survey time period

Q1 2020

Supplementary notes

* The source specified that, besides the oil price underlying each scenario, the refining margin would largely depend on the amount of the discount on Urals relative to North Sea oil, a combination of the crack spread on petroleum products on the European market, and the dynamics of wholesale prices in the Russian Federation.

An oil refining margin is calculated by deducting the value of crude oil entering a refinery from petroleum products' value leaving a refinery.

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Statistics on "Russian oil industry"

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