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Russia To Lift Oil Products Export Ban Next Week: Sources

OIL PRODUCTS

Russian fuel producers have been told by the government that the remaining restrictions on diesel and gasoline exports will be lifted next week, three industry sources told Reuters on Thursday.

  • Russia introduced a ban on fuel exports on 21 September and eased restrictions on diesel exports on 6 October.
  • Energy Minister Nikolai Shulginov on Wednesday said that Russia was considering lifting the export ban on some grades of gasoline.
  • "They told the producers that exports will be opened up from next week," said a Russian oil company source.
  • Another industry source said the ban would be lifted next week. "They promised to lift the exports ban next week. In regards to this promise, we have formed an export schedule and a plan for refining," said the source.
  • Another company source said that a gasoline glut had emerged because of the restrictions. "It's a low season now; we can't sell so much on the domestic market," he said.

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