Russia will lift the ban

Russia, one of the world’s largest diesel exporters, introduced a fuel export ban on Sept. 21 to address high domestic fuel prices and shortages, Reuters said. The Russian government eased restrictions on Oct. 6 to allow diesel exports through pipelines, but retained restrictions on gasoline exports.

Russia’s Energy Minister Nikolai Shulginov said on October 8 that Russia was considering lifting the ban on the export of certain grades of gasoline. “They told producers they will start opening up for exports next week,” said a Russian oil company source. Another industry source also said the ban would be lifted next week.

Russia’s Energy Ministry did not immediately respond to a request for comment.

Another source said Russia already had a surplus of domestic gasoline supplies due to previously enforced restrictions.

The Russian government announced last week that it would maintain its previously announced crude oil production cuts. Russian Deputy Prime Minister Alexander Novak said Russia will continue to voluntarily cut crude oil production and petroleum product exports by 300,000 barrels per day by the end of December, as previously announced.