Mexico's largest refinery, owned by Pemex, is likely to reach half of its production capacity by July 2023, according to Mexico's President. This statement marked another shift in the project's timing.

Deputy Prime Minister of the Russian Federation Alexander Novak declared that the country is able to supply LNG again using the Yamal-Europe pipeline.

Competition between the West and the rest of the world would intensify, Deputy Chairman of the Russian Security Council Dmitry Medvedev wrote in an article that was published in the Rossiyskaya Gazeta.

In an interview with Russia-24TV Channel, Deputy Prime Minister Alexander Novak spoke about the possible rise in the cost of oil in Europe. Such forecast sounded in connection with a complete ban on the supply of Russian oil products.

According to the forecast of Deputy Prime Minister Alexander Novak, next year the price of oil will take a range between $70 and $100 per barrel.

The Council of the European Union announced the final decision to create a temporary mechanism for regulating the gas market in the region with an indefinite price cap.

Deputy Prime Minister Alexander Novak said that Russia would slash gas production by 18-20% to 671 billion cubic meters by the end of the year. It would supply 470 billion cubic meters to the domestic market.

The Morgan Report publisher David Morgan gave his forecasts for the upcoming year. As stated by the financial expert, he doesn’t consider investing in stocks or bonds in 2023.

In response to the West's decision to limit Russian oil supplies, energy exports to countries that would insist on respecting price caps will be banned. This was stated by Deputy Prime Minister of the Russian Federation Alexander Novak.

An increase of oil prices was registered on Friday due to expected decline in crude exports from the Baltic region of Russia in the current month. This fact mitigated concerns that transport fuel demand might stop growing because of an upcoming Arctic storm in the United States.