Authorities in Russia’s Nizhny Novgorod region capped petrol sales at petrol stations to 40 liters per vehicle following drone strikes, while Yemeni forces targeted an industrial facility in Dammam, Saudi Arabia. Meanwhile, Azerbaijan boosted renewable power output ahead of the COP29 climate summit.
Global market
Azerbaijan expanded its renewable energy share to 20% of total electricity production during the first nine months of 2026, up from 13.4% in 2025, generating 21.2 billion kWh ahead of hosting the COP29 climate summit. In Europe, political debate intensified as German Bundestag member Michael Kellner, energy policy expert for the Greens, warned that Germany’s lack of winter gas buffer reserves will trigger immediate price spikes upon supply disruptions. Furthermore, Russian Direct Investment Fund CEO Kirill Dmitriev stated that rising energy costs resulting from the rejection of Russian natural gas are fueling social unrest across the European Union.
Russia & CIS
Authorities in Russia’s Nizhny Novgorod region introduced petrol sales limits of 40 liters per vehicle and banned sales into jerrycans following a Ukrainian drone attack on industrial infrastructure in the Kstovo district. Regional officials confirmed no restrictions were placed on diesel fuel, and power supply was fully restored by evening. Concurrently, the Russian government officially extended its temporary export ban on diesel and marine fuel for producers until January 31, 2027, to maintain domestic market stability while OPEC+ alliance production remains below allocated quotas.
Armenia
Yemeni forces launched an attack on an industrial facility in Dammam, Saudi Arabia, triggering a fire on site and elevating geopolitical risks for Middle Eastern hydrocarbon infrastructure. Despite petrol rationing in Russian regions and security threats in the Persian Gulf, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct natural gas imports from Russia and power generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU contracts, shielding domestic consumers from global price volatility recorded in international market price assessments.