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Fuel trading volume on SPIMEX may reach 35-36 mln tons by end of 2024

In 2023, the volume of sales of oil products on SPIMEX at the end of 2023 increased by 6.4% and reached 31 mln tons, which is a record figure

MOSCOW, December 3. /TASS/. The volume of oil products trading on the St. Petersburg International Mercantile Exchange (SPIMEX) may reach 35-36 mln tons by the end of 2024 compared to 31 mln tons in 2023, SPIMEX Senior Vice President Anton Karpov told reporters.

"Last year it seemed that the 31 mln tons traded [on the exchange] was the limit. This year we are looking closely at our 11-month figures and they are alarming. Because, in all likelihood, the figure could reach around 35-36 mln tons, which is quite a significant increase," he said.

In 2023, the volume of sales of oil products on SPIMEX at the end of 2023 increased by 6.4% and reached 31 mln tons, which is a record figure. In terms of value, the turnover of trade in oil products at the end of 2023 amounted to 1.616 mln rubles ($15,198) against 1.404 trillion rubles ($13.2 bln) in 2022 (an increase of 15%).

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