Russia’s Near-Record Diesel Exports Help Lift Refined Fuel Flows
- Diesel, gasoil shipments head for a four-month high in July
- Naphtha exports rebound strongly from June’s multiyear low
Fuel and oil rail wagons at the Zeletsyno train station near Nizhny Novgorod, Russia.
Photographer: Andrey Rudakov/Bloomberg
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Russia’s oil-product exports are now on track to edge higher this month, as near-record diesel and rebounding naphtha shipments are set to offset lower flows of other fuels.
The market is keeping a close eye on trade figures for any signs of Russian output cutbacks, with Moscow keeping production data a state secret. The country’s crude shipments slipped to a six-month low in the latest four-week period, suggesting it’s finally making good on a pledge to cut supply to world markets.