Andres Vainola, the head of AS Enefit Power said the company has not seen such high shale oil prices for a long time. Vainola said the increase in demand and prices is due to the faster-than-expected recovery of the global economy from the coronavirus pandemic and oil refineries are operating at full capacity.

"So to speak, the phone line is red. The current annual forecast also shows that we will most likely be able to break the annual record of the oil plant's production volume this year," Vainola said.

There is a similar situation in power production. "In June, Estonia produced more electricity than it consumed. This has not been the case for a long time, especially in the summer months," he said.

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