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Market Chatter: Russia Mulls Curbs on Diesel, Jet Fuel Exports to Ensure Sufficient Domestic Supply

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Russia is evaluating the possibility of imposing limits on the volumes of diesel fuel and jet fuel exported from the country in order to ensure sufficient domestic supply, Interfax reported on Tuesday, citing several undisclosed sources.

During a meeting regarding the fuel market on Tuesday, Russian Deputy Prime Minister Alexander Novak stressed the need to prioritize the availability of reliable and uninterrupted supply of fuel for domestic consumers.

According to the report, Novak said a constant monitoring of the domestic fuel market was required to maintain coordination between government agencies and the industry and to quickly introduce extra measures if required.

Oil companies have been advised to reduce their exports of petroleum products and a decision on the ban of diesel and kerosene shipments is at an advanced stage, although an implementation date is yet to be decided, the report said, citing sources.

Authorities have been considering limiting kerosene exports since last week, with plans to ban on such exports for a month or two in the near future under review, the report said.

Meanwhile, a source noted that restrictions on exports of diesel fuel was unlikely due to ample availability, the report added.

has reached out to the Russian Energy Ministry for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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