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Russian Gasoline Export Extension Begins July 1

OIL PRODUCTS

The Russian government has allowed gasoline exports in July after stability in the domestic market supply according to government documents following the announcement last week.

  • "Measures taken earlier to regulate the export have proved efficient, enabling saturation of the domestic market. This is why the Government decided to extend the suspension of the temporary petrol export ban by another month, beginning from July 1," Russian Energy Minister Sergei Tsivilev said.
  • The government had temporarily lifted the ban from May 20 through the end of June as domestic supplies proved more than sufficient to meet demand, and risks flipped to overstocking.

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