quote: ➡️ Russian diesel production has likely been running ahead of demand for weeks (Kpler estimated that Russia had ~ | Hanami
quote: ➡️ Russian diesel production has likely been running ahead of demand for weeks (Kpler estimated that Russia had ~130kbd more production than demand in September). With harvest over, demand is probably down by 100kbd more.
➡️ So, the diesel export ban likely would have been lifted no later than November 1, regardless. But, the switch to winter diesel production began in late September, and a few weeks were required to build sufficient stocks of that to allow exports to be restarted/ramped up.
#OOTT | #Russia: The government partially lifted the ban on the export of diesel fuel from Russia
The government has accepted decision on partial lifting of the ban on the export of diesel fuel from Russia.
The decision was made in accordance with the agreements of Russian President Vladimir Putin and the President The United States of America Donald Trump. It comes into force on October 10 and will allow at this stage to allocate 500 thousand tons to the world market diesel fuel.
In execution the decision of the Russian oil companies in agreement with the Government immediately start contracting the supply of diesel fuel with foreign counterparties.
“This decision will not affect the interests of Russian consumers. Diesel fuel in Russia produced from Russian oil on domestic oil refining factories. Production volumes make it possible to fully provide as internal the market, and supplies in these volumes to the world market, ”- said Deputy Prime Minister Alexander Novak.
#oott government.ru/news/60156/