Russia cuts September seaborne diesel exports to meet domestic shortage

Russia cuts September seaborne diesel exports to meet domestic shortage
# 21 September 2023 15:19 (UTC +04:00)

Russia cut its seaborne diesel and gasoil exports by nearly 30% to about 1.7 million metric tons in the first 20 days of September from the same time in August, as local refineries went into seasonal maintenance and the domestic market faces a fuel shortage and rising prices, traders said and LSEG data showed, APA reports citing Reuters.

Idle primary oil refining capacity for September is estimated at 4.657 million tons, up 45% from August, according to Reuters calculations.

Due to the domestic fuel shortage, Russia's government is considering an export duty for oil products of $250 per ton - much higher than current fees - from Oct. 1 until June 2024, sources told Reuters on Tuesday.

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