Russia’s Fuel Exports Head for 15-Month Low Amid Local Demand
- Robust domestic demand pulls road fuels away from exports
- Oil product flows also fall as some fuels breach price cap
A gas station in Moscow.
Photographer: Natalia Kolesnikova/AFP/Getty Images
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Russia’s refined fuel exports are on course to slump to a 15-month low, amid strong domestic demand for road fuels and as some products exceeded Group of Seven price caps.
The country shipped 2.24 million barrels of oil products a day in the first 20 days in August, down 14% from July’s total, according to Vortexa Ltd. data compiled by Bloomberg. That’s the lowest since May 2022 and about 5% below year-earlier levels, when Europe was still the biggest market for Russian fuels.