Current News in the Oil and Gas and Energy Sector as of December 8, 2025: Market Situation for Oil and Gas, Sanctions, Energy Security, Coal, Renewables, Russian Fuel Market, and Key Trends in the Energy Sector.
The current events in the fuel and energy complex as of December 8, 2025, are unfolding against the backdrop of an ongoing tough confrontation between Russia and the West, along with relative stability in the raw materials markets at the beginning of the winter season. Western countries have recently intensified their sanctions pressure by imposing new restrictions on the Russian energy sector and closing loopholes for bypassing the embargo.
At the same time, global raw material markets are demonstrating relative stability. Oil prices remain near recent lows: Brent has stabilized in the range of $60–65 per barrel after a brief dip below $60, supported by ample supply. The European gas market is entering winter with very high reserves – underground gas storage in the EU is over 90% full, which keeps wholesale prices at a comfortable level (TTF around €30 per MWh).
Against this backdrop, the global energy transition is gaining momentum. Investment in renewable energy is breaking records and already surpasses investments in fossil fuel extraction. The share of “green” sources in global electricity generation is steadily increasing. At the same time, oil, gas, and coal still remain the backbone of the energy balance, meeting current demand and ensuring the security of energy systems during the transitional period.
In Russia, by the beginning of December, the domestic fuel market has notably stabilized thanks 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 addressed: wholesale prices have retreated from peak levels, independent gas stations have resumed normal operations, and supply to regions has returned to normal. Authorities are maintaining export restrictions on petroleum products and support measures for oil refining to prevent a repeat spike in prices and shortages during the winter period.
Below is an overview of key news and trends in the oil, gas, electricity, renewable, and coal sectors, as well as the Russian fuel market as of the current date.
Oil Market: Oversupply and Weak Demand Pressuring Prices
Global oil prices remain at a low level influenced by oversupply and moderate demand. The benchmark Brent is trading around $64–65 per barrel, while WTI is at $60–61, approximately 10% lower than a year ago. Several factors influence the situation:
- OPEC+ Production Increase. The OPEC+ alliance is systematically increasing supply. In December, production quotas have been raised by around 100,000 barrels per day, bringing the total increase since April to ~2.7 million barrels per day. This is leading to a rise in global oil and petroleum product stocks.
- Weak Demand Growth. Global oil consumption is growing significantly slower than in previous years. The IEA forecasts demand increase in 2025 to be only about +0.7 million barrels per day (compared to over +2 million in 2023). This is influenced by the 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 the appetite of 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 state. Underground gas storage in the EU is more than 90% full, providing a solid buffer and keeping prices at a low level. TTF hub prices have stabilized around €30 per MWh, which is significantly lower than last winter’s peaks and indicates a balance of supply and demand in Europe.
- Europe Ready for Winter. Record gas stocks guarantee a buffer even in severe cold weather. Weak economic growth and high generation from renewables are restraining gas consumption in the EU, so even in colder weather, a significant part of the additional demand can be covered from storage – the risk of shortages is minimal.
- Diversification of LNG Imports. Record shipments of liquefied gas from the USA, Qatar, Africa, and other regions have helped fill European storage. In the summer, the EU took advantage of low spot prices and weak Asian demand to purchase maximum LNG and prepare for winter.
Thanks to accumulated reserves and diversified imports, Europe enters the heating season without signs of fuel shortages, and prices remain comfortable for consumers. Despite the reduction of domestic production and the near-total cessation of Russian pipeline gas supplies, joint procurement, energy conservation, and the accelerated introduction of renewables are strengthening Europe’s energy security.
International Politics: Sanction Confrontation Without De-escalation
- New Western Restrictions. In recent months, a number of additional sanctions have been imposed against the Russian energy sector. The United States has blacklisted leading Russian oil and gas companies. The EU has approved a new package targeting the closure of remaining channels for bypassing the embargo. The UK has added several foreign companies assisting in the trade of Russian oil to the sanctions list.
- Pressure on India and China. Under pressure from the West, major Asian clients of Moscow have been urged to limit cooperation. India has expressed its intention to gradually reduce purchases of Russian oil (a slight decrease is expected as early as December), and China has also received signals to cut imports. However, neither New Delhi nor Beijing are in a hurry to take concrete steps, emphasizing that their policies depend on national interests. Nevertheless, the prospect of reduced Asian demand increases uncertainty, and Russia is redirecting supplies to alternative markets.
Asia: India and China Strengthen 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 supply, increasing imports of oil, gas, and coal on favorable 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 imports of Russian oil to meet its needs. Both countries are in no rush to reduce cooperation with Moscow, placing energy security above external pressure.
Overall, the high demand from Asian countries compensates for the stagnation in consumption in the West, keeping global usage of oil, gas, and coal at high levels. The pursuit of energy security is prompting Asian economies to diversify sources and conclude long-term deals. While both 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.
Electricity and Renewables: Record Demand and New Challenges
Global electricity consumption in 2025 reaches a historical maximum, exceeding 30,000 TWh for the first time. Renewable sources now account for about 30% of this electricity. The main contribution to demand growth comes from developing Asian countries (primarily China and India), as well as the spread of electric transport and electric heating.
- Infrastructure Upgrades. Worldwide, the modernization of power grids and generating capacities is accelerating. Large investments are being directed towards “smart” grids, energy storage, and strengthening transmission lines. These efforts improve the reliability of power supply and prepare grids for the growing 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 global coal usage to remain at maximum levels, while in the West, the use of this fuel is rapidly declining.
- East vs. West. In Asia (China, India), demand for coal remains high: these countries are increasing production and imports to ensure energy for their industries. Major exporters (Australia, Indonesia, South Africa, Russia) maintain high supply volumes to the East. Meanwhile, in the West, coal is rapidly being phased out: strict environmental regulations have reduced its share to minimal levels (in the EU, it accounts for mere percentage points of generation, while in the USA, consumption has fallen back to 1970s levels). As long as Asian economies do not begin to significantly reduce their dependence on coal, global coal consumption will remain close to record highs.
Russian Fuel Market: Stabilization After the Crisis and Priority for the Domestic Market
In the fall of 2025, the domestic market for petroleum products in Russia gradually stabilized following the acute supply crisis that occurred in late summer. Thanks to emergency government measures, the situation with gasoline and diesel has been brought under control: shortages in most regions have been eliminated, and price growth has halted.
- Export Restrictions and Stabilization. The ban on the export of automotive gasoline, introduced at the end of September, has been extended until December 31, 2025; restrictions on the export of diesel fuel also remain in place (independent traders are not exporting, and oil companies are allowed only limited export). These measures and subsidies for oil refiners have had an effect: 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 resilience of the sector.
