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So far this month,Russia’s fuel exports have surged due to the increase in processing rates by local refineries after seasonal maintenance,while Russia continues to relax export restrictions.
According to data from analysis company Vortex,from November 1st to 18th,Russia’s fuel transportation volume jumped to approximately 2.4 million barrels per day,an increase of approximately 333000 barrels per day compared to October,and is expected to reach its highest level in four months.
Specifically,Russian diesel and gasoline exports rose to 956000 barrels per day,the highest level since August last year.Türkiye,Brazil and China are still Russia’s main diesel exports.
Russian naphtha exports have also climbed to 417000 barrels per day,the highest level in six months,with a decrease in shipments to Asia and a surge in shipments to Africa and the Middle East.
As the world’s largest exporter of diesel fuel by sea,Russia exported approximately 35 million tons of diesel last year.Russia also exported 4.8 million tons of gasoline last year.
The main reason for the surge in fuel exports is Russia’s continued relaxation of export restrictions and the completion of seasonal maintenance work by the country’s refineries.
On September 21st,Russia announced temporary restrictions on gasoline and diesel exports to ensure its domestic supply.On October 6th,Russia relaxed its export ban and lifted restrictions on exporting diesel through pipelines to ports,provided that refiners supply at least 50%of their diesel production to the domestic market in Russia.
Russia lifted the ban on gasoline exports on November 17th,but certain restrictions on diesel exports still exist.
According to the Interfax News Agency on Wednesday,the Russian government has decided to lift the summer diesel export ban.
Earlier on Wednesday,Russian Deputy Prime Minister Alexander Novak told lawmakers in the Federal Council that due to the saturation of the domestic market,the remaining export restrictions may be lifted in the near future.