Changing Trends in the Development of the Russian Oil Industry in Current Realities

The trends occurring in modern conditions determine the high relevance of ensuring the efficient functioning of the Russian oil industry. In the context of a record number of economic and political sanctions against Russia from a number of countries in history, uncertainty and the continued increase in sanctions pressure, issues of ensuring the effectiveness of the development of the oil industry occupy a central place in the system of measures to ensure the socio-economic development of the country. The purpose of the study is to identify development trends and directions for stimulating the Russian oil industry, taking into account modern changes in the global and Russian economy. The research methodology is based on the statistical analysis of the main indicators of the development of the Russian oil industry, as well as the search for relationships between their changes. The information and empirical basis for the study were official statistical data and analytical reviews. Scientific novelty lies in ensuring the relationship between development trends in the oil industry and the most relevant measures aimed at increasing the efficiency of its functioning. The study showed the need to take into account the relationships between indicators and development trends of the oil industry when developing directions for increasing the efficiency of its functioning. The article proposes the following directions for the development of the industry: government incentives for the diversification of energy exports, innovative activities in the field of withdrawal of hard-to-reach oil reserves, research work, the introduction of innovative digital technologies, the creation of an international cluster similar to a special economic zone.