The Russian government has instructed fuel producers to prepare for the removal of all remaining export restrictions on diesel and gasoline, according to three industry sources who spoke to Reuters on Thursday.
Russia, the world’s leading seaborne exporter of diesel, implemented a ban on fuel exports on Sept. 21 in response to high domestic prices and shortages. The government eased restrictions on Oct. 6, allowing the export of diesel by pipeline, but maintained measures on gasoline exports, including prohibiting overseas supplies of gasoline by trucks and railways.
Energy Minister Nikolai Shulginov recently indicated that Russia is considering lifting the export ban on certain grades of gasoline.
Industry sources revealed that the government has promised to lift the export ban next week, prompting them to create an export schedule and refining plan. Diesel is Russia’s largest oil product export, totaling about 35 million metric tons last year, with nearly three-quarters transported via pipeline. The country also exported 4.8 million tons of gasoline in 2022.
One source highlighted a gasoline glut due to the restrictions, stating that sales on the domestic market have been affected.
Officials have suggested that the export ban would be lifted once the domestic market stabilizes, with analysts anticipating the restrictions to be lifted after the recent grain harvesting season.
Deputy Prime Minister Alexander Novak announced that Russia would maintain an additional voluntary supply cut of 300,000 barrels per day from its crude oil and petroleum product exports until the end of December.