Russia’s Fuel Sales Driven Higher by Surging Diesel Exports
- Shipments are on course to reach a four-month high in November
- Refinery runs and easing of trade restrictions lift flows
A diesel fuel pump.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Russian oil-product flows have surged so far this month as local refiners boost processing rates due to the end of seasonal maintenance and the nation continued easing export restrictions.
The rebound helps to offset what has been a grinding decline in seaborne crude cargoes over the past several weeks. That’s important because Russia counts combined crude and fuel flows as metrics for compliance with a pact with OPEC+. The producer group will meet in the next several days to discuss future supply plans.