Russia Lifts Ban on Gasoline Exports As Of 17 November

The Russian government will lift the ban on gasoline exports from 17 November as supplies in the domestic market have improved, the Russian Energy Ministry said in a Telegram post, cited by Bloomberg.

• Russian gasoline stockpiles are around 2m tons, the ministry said.
• The government will continue to monitor gasoline output and prices and may re-introduce a ban if necessary.
• Russian Deputy PM Alexander Novak met with oil producers on Thursday to discuss the domestic fuel market. "During the meeting, representatives of the Ministry of Energy and the Ministry of Agriculture noted the stabilization of fuel prices in the country and the absence of fuel shortages," the government said, cited by Bloomberg.
• Novak instructed the energy ministry and antitrust watchdog to monitor the fuel situation with prices in some regions of the country.
• Russia’s oil processing rates in the week to Nov. 15 have reached their highest in 12 weeks as refineries wind down their maintenance and begin ramping up production. Russia processed 5.5m b/d of crude between Nov. 9-15, according to Bloomberg’s sources, the highest rate since August.